Maverix Metals (NYSE:MMX) Shares Gap Down to $4.72

Shares of Maverix Metals Inc. (NYSE:MMX) gapped down prior to trading on Thursday . The stock had previously closed at $4.72, but opened at $4.50. Maverix Metals shares last traded at $4.50, with a volume of 5,027 shares traded.

A number of brokerages have issued reports on MMX. Stifel Nicolaus upped their price objective on shares of Maverix Metals from C$8.25 to C$8.50 and gave the stock a “buy” rating in a research report on Thursday, July 8th. Zacks Investment Research cut shares of Maverix Metals from a “buy” rating to a “hold” rating in a research note on Friday, July 16th. Finally, CIBC boosted their target price on shares of Maverix Metals from C$8.50 to C$9.00 and gave the company an “outperformer” rating in a research note on Monday, August 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Maverix Metals currently has an average rating of “Buy” and an average price target of $7.54.

The stock’s fifty day moving average price is $4.76 and its 200 day moving average price is $5.28. The stock has a market cap of $665.05 million, a P/E ratio of 16.89 and a beta of 1.08.

Maverix Metals (NYSE:MMX) last released its earnings results on Thursday, August 12th. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. Maverix Metals had a net margin of 67.36% and a return on equity of 5.66%. The company had revenue of $14.31 million for the quarter. As a group, analysts anticipate that Maverix Metals Inc. will post 0.12 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were given a dividend of $0.0125 per share. The ex-dividend date of this dividend was Monday, August 30th. This represents a $0.05 annualized dividend and a yield of 1.10%. Maverix Metals’s payout ratio is currently 55.56%.

A number of institutional investors and hedge funds have recently made changes to their positions in MMX. Van ECK Associates Corp boosted its position in Maverix Metals by 234,555.3% during the 1st quarter. Van ECK Associates Corp now owns 2,513,158 shares of the company’s stock valued at $13,244,000 after buying an additional 2,512,087 shares during the period. Tocqueville Asset Management L.P. lifted its position in shares of Maverix Metals by 70.1% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 425,329 shares of the company’s stock worth $2,294,000 after purchasing an additional 175,305 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Maverix Metals in the 1st quarter worth about $743,000. Stifel Financial Corp lifted its position in shares of Maverix Metals by 37.6% in the 1st quarter. Stifel Financial Corp now owns 366,653 shares of the company’s stock worth $1,932,000 after purchasing an additional 100,190 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Maverix Metals in the 2nd quarter worth about $442,000. 10.26% of the stock is owned by institutional investors and hedge funds.

Maverix Metals Company Profile (NYSE:MMX)

Maverix Metals, Inc engages in the evaluation and acquisition of mining royalties and precious metals streams. Its assets include La Colorada, San Jose, Mt. Carlton, Vivien, Beta Hunt, Silvertrip, Florida Canyon, Moose River, Shalipayco and Romero. The company was founded by Geoffrey A. Burns and Daniel O’Flaherty on September 5, 2008 and is headquartered in Vancouver, Canada.

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