Amaroq Minerals (LON:AMRQ) Trading Up 10.5% – Here’s Why

Amaroq Minerals Ltd. (LON:AMRQ) shares were up 10.5% during mid-day trading on Friday . The company traded as high as GBX 119 and last traded at GBX 116. Approximately 641,142 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 1,112,047 shares. The stock had previously closed at GBX 105.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMRQ shares. Panmure Gordon reaffirmed a “buy” rating and issued a GBX 125 price target on shares of Amaroq Minerals in a research note on Wednesday, November 19th. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 120 target price on shares of Amaroq Minerals in a research report on Thursday, December 4th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 122.50.

Amaroq Minerals Stock Up 11.5%

The company has a quick ratio of 9.04, a current ratio of 0.67 and a debt-to-equity ratio of 32.09. The company has a market capitalization of £542.93 million, a PE ratio of -22.96 and a beta of 0.20. The business’s 50 day simple moving average is GBX 95.60 and its 200 day simple moving average is GBX 83.12.

About Amaroq Minerals

Amaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals.