Mandalay Resources Corp. (TSE:MND) has been given a C$1.45 price objective by equities researchers at Scotiabank in a report released on Thursday. The firm presently has a an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 52.63% from the company’s previous close.

Several other brokerages have also recently weighed in on MND. Raymond James Financial Inc. increased their price objective on shares of Mandalay Resources Corp. from C$1.25 to C$1.40 in a research note on Monday, June 27th. Desjardins lowered their price objective on shares of Mandalay Resources Corp. from C$1.95 to C$1.70 in a research note on Tuesday, August 16th.

Shares of Mandalay Resources Corp. (TSE:MND) traded up 4.21% during trading on Thursday, hitting $0.99. The stock had a trading volume of 162,678 shares. The stock’s 50 day moving average is $1.05 and its 200-day moving average is $1.07. The company has a market cap of $446.18 million and a PE ratio of 123.75. Mandalay Resources Corp. has a 12-month low of $0.59 and a 12-month high of $1.35.

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About Mandalay Resources Corp.

Mandalay Resources Corporation is a Canada-based mining company. The Company is engaged in the business of exploration, development and mining of natural resource properties. It holds interest in properties, such as Costerfield, Australia; Cerro Bayo, Chile, and Bjorkdal, Sweden. The Company also focuses on the undergoing mineral exploration and water supply development.

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