BMO Capital Markets Lowers Argonaut Gold Inc (AR) Price Target to C$3.50
Argonaut Gold Inc (TSE:AR) had its price objective reduced by research analysts at BMO Capital Markets from C$4.50 to C$3.50 in a research report issued to clients and investors on Tuesday. The firm presently has a “market perform” rating on the mining company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 25.90% from the stock’s previous close.
AR has been the subject of several other research reports. Scotiabank reiterated an “outperform” rating and set a C$5.00 target price on shares of Argonaut Gold in a research note on Tuesday, October 4th. Canaccord Genuity increased their target price on shares of Argonaut Gold from C$3.00 to C$4.25 in a research note on Tuesday, July 12th. Finally, Desjardins upgraded shares of Argonaut Gold from a “hold” rating to a “buy” rating and increased their target price for the stock from C$4.00 to C$4.70 in a research note on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Argonaut Gold has a consensus rating of “Hold” and a consensus price target of C$4.28.
Argonaut Gold (TSE:AR) traded up 6.12% during midday trading on Tuesday, reaching $2.95. The company had a trading volume of 913,908 shares. Argonaut Gold has a 1-year low of $0.78 and a 1-year high of $4.45. The firm’s 50 day moving average is $3.39 and its 200 day moving average is $3.23. The stock’s market capitalization is $467.48 million.
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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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