TMAC Resources Inc (TSE:TMR) had its price target reduced by research analysts at Scotiabank from C$22.00 to C$16.00 in a research report issued on Monday. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 28.93% from the stock’s current price.

TMR has been the subject of several other reports. CIBC decreased their price objective on shares of TMAC Resources from C$18.00 to C$16.00 and set a “neutral” rating for the company in a report on Monday. TD Securities decreased their price objective on shares of TMAC Resources from C$20.00 to C$19.00 and set a “speculative buy” rating for the company in a report on Tuesday, May 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$18.39.

TMAC Resources (TSE TMR) traded down 9.08% during midday trading on Monday, hitting $12.41. 62,128 shares of the stock were exchanged. TMAC Resources has a 52 week low of $12.37 and a 52 week high of $20.18. The firm’s 50-day moving average is $15.46 and its 200 day moving average is $15.79. The stock’s market cap is $1.04 billion.

TMAC Resources (TSE:TMR) last posted its quarterly earnings data on Monday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.02. Equities research analysts expect that TMAC Resources will post $0.35 EPS for the current fiscal year.

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In other news, insider Floyd D. Varley sold 6,530 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of C$15.10, for a total value of C$98,603.00.

TMAC Resources Company Profile

TMAC Resources, Inc is a Canada-based mineral exploration and development company. The Company is involved in the exploration, evaluation and development of the Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada (Hope Bay Project). Approximately 1,100 square kilometer Hope Bay Project gold deposit has approximately 4.5 million ounces of gold at an average grade of approximately 9.2 grams per ton gold (g/t Au), Inferred Mineral Resources totaling approximately 1.4 million ounces of gold at an average grade of 7.4 g/t Au and proven and probable mineral reserves totaling approximately 3.5 million ounces of gold at an average grade of 7.7 g/t Au.

Analyst Recommendations for TMAC Resources (TSE:TMR)

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