Argonaut Gold (OTCMKTS:ARNGF) Shares Cross Below 50 Day Moving Average of $0.62

Argonaut Gold Inc. (OTCMKTS:ARNGFGet Rating) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.62 and traded as low as $0.32. Argonaut Gold shares last traded at $0.36, with a volume of 371,882 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Desjardins lowered their target price on Argonaut Gold from C$2.50 to C$1.25 in a research note on Thursday, July 7th. Royal Bank of Canada lowered their target price on Argonaut Gold from C$2.75 to C$1.25 in a research note on Wednesday, July 6th. Canaccord Genuity Group upgraded Argonaut Gold from a “sell” rating to a “hold” rating and set a C$1.50 target price on the stock in a research note on Monday, May 23rd. Scotiabank lowered their price objective on Argonaut Gold from C$3.00 to C$1.25 in a research note on Wednesday, July 6th. Finally, BMO Capital Markets initiated coverage on shares of Argonaut Gold in a report on Thursday, July 7th. They set an “outperform” rating on the stock.

Argonaut Gold Trading Up 9.1 %

The company’s fifty day simple moving average is $0.62 and its 200 day simple moving average is $1.38.

About Argonaut Gold

(Get Rating)

Argonaut Gold Inc is a Canadian company engaged in gold mining, mine development, and mineral exploration activities at gold-bearing mineral properties in North America. Its primary assets include the El Castillo and San Agustin mines, which together form the El Castillo Complex located in Durango, Mexico; the La Colorada mine located in Sonora, Mexico; the Florida Canyon mine in Nevada, the United States; and the Cerro del Gallo project in Guanajuato, Mexico.

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