Montage Gold (TSE:MAU) Trading 10.4% Higher – What’s Next?

Montage Gold Corp. (TSE:MAU) 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 changed 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 Upgrades and Downgrades

Several research firms have recently issued reports on MAU. ATB Cormark Capital Markets lifted their price target on Montage Gold from C$16.50 to C$18.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Canaccord Genuity Group increased their price objective on shares of Montage Gold from C$16.00 to C$18.00 and gave the company a “speculative buy” rating in a research report on Friday, May 15th. Stifel Nicolaus raised their price objective on shares of Montage Gold from C$16.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Scotiabank lifted their target price on shares of Montage Gold from C$18.50 to C$19.00 and gave the stock a “sector outperform” rating in a report on Monday, June 22nd. Finally, BMO Capital Markets upped their target price on shares of Montage Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Montage Gold presently has an average rating of “Buy” and a consensus price target of C$14.62.

Montage Gold Stock Performance

The company has a market cap of C$6.61 billion, a P/E ratio of -86.32 and a beta of 2.27. The company has a quick ratio of 0.35, a current ratio of 8.43 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of C$15.70 and a two-hundred day simple moving average of C$13.79.

Montage Gold (TSE:MAU) last released its quarterly earnings results on Thursday, May 14th. The company reported C($0.03) earnings per share (EPS) for the quarter. On average, sell-side analysts anticipate that Montage Gold Corp. will post -0.04 EPS for the current 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.