Argonaut Gold Inc (AR) Given New C$3.25 Price Target at CIBC
Argonaut Gold Inc (TSE:AR) had its price target reduced by CIBC from C$3.75 to C$3.25 in a report released on Tuesday. CIBC’s price objective indicates a potential upside of 16.91% from the stock’s previous close.
A number of other brokerages have also issued reports on AR. Canaccord Genuity raised their target price on Argonaut Gold from C$3.00 to C$4.25 in a research note on Tuesday, July 12th. Scotiabank restated an “outperform” rating and issued a C$5.00 target price on shares of Argonaut Gold in a research note on Friday, July 15th. BMO Capital Markets lowered Argonaut Gold from an “outperform” rating to a “market perform” rating in a research note on Friday, July 15th. Finally, Desjardins upgraded Argonaut Gold from a “hold” rating to a “buy” rating and raised their target price for the stock from C$4.00 to C$4.70 in a research note on Tuesday, August 16th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$4.28.
Shares of Argonaut Gold (TSE:AR) traded up 6.12% during trading on Tuesday, reaching $2.95. The company had a trading volume of 913,908 shares. The stock’s 50-day moving average price is $3.39 and its 200-day moving average price is $3.23. The company’s market capitalization is $467.48 million. Argonaut Gold has a 52 week low of $0.78 and a 52 week high of $4.45.
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About Argonaut Gold
Argonaut Gold Inc is engaged in gold mining, mine development and mineral exploration activities at gold-bearing mineral properties in North America. The Company’s segments are El Castillo, La Colorada, San Antonio, Magino, and Corporate and other. It owns the producing El Castillo mine in the State of Durango, Mexico; the producing La Colorada mine in the State of Sonora, Mexico; the advanced exploration-stage San Antonio property in the State of Baja California Sur, Mexico; the advanced exploration-stage Magino property in the Province of Ontario, Canada; the advanced exploration-stage San Agustin property located approximately 10 kilometers from the El Castillo mine in the State of Durango, Mexico, and various other exploration stage projects, all of which are located in North America.
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