Montage Gold (TSE:MAU) Trading Up 10.4% – Here’s What Happened

Montage Gold Corp. (TSE:MAU) shares traded up 10.4% during trading on Wednesday . The company traded as high as C$17.00 and last traded at C$16.98. Approximately 1,003,446 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 1,182,740 shares. The stock had previously closed at C$15.38.

Analyst Ratings Changes

MAU has been the subject of several analyst reports. Stifel Nicolaus increased their price objective on Montage Gold from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. ATB Cormark Capital Markets upped their price target on Montage Gold from C$16.50 to C$18.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Scotiabank upped their price target on Montage Gold from C$18.50 to C$19.00 and gave the company a “sector outperform” rating in a research note on Monday, June 22nd. Canaccord Genuity Group increased their price target on Montage Gold from C$16.00 to C$18.00 and gave the stock a “speculative buy” rating in a report on Friday, May 15th. Finally, National Bank Financial raised their price objective on Montage Gold from C$19.00 to C$20.00 in a research report on Friday, May 15th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$14.62.

Montage Gold Stock Performance

The firm’s fifty day moving average price is C$15.70 and its 200 day moving average price is C$13.73. The company has a current ratio of 8.43, a quick ratio of 0.35 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of C$6.85 billion, a price-to-earnings ratio of -89.37 and a beta of 2.27.

Montage Gold (TSE:MAU) last posted its earnings results on Thursday, May 14th. The company reported C($0.03) earnings per share for the quarter. Analysts forecast that Montage Gold Corp. will post -0.04 EPS for the current fiscal year.

Montage Gold Company Profile

Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 2,259 square kilometers located in the Côte d'Ivoire, West Africa. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.