TMAC Resources Inc (TMR) Price Target Cut to C$17.50 by Analysts at TD Securities
TMAC Resources Inc (TSE:TMR) had its price objective lowered by equities research analysts at TD Securities from C$18.00 to C$17.50 in a report released on Tuesday. The brokerage currently has a “speculative buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 65.72% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. CIBC dropped their target price on TMAC Resources from C$18.00 to C$16.00 and set a “neutral” rating for the company in a research report on Monday, July 17th. Scotiabank lowered their price objective on TMAC Resources from C$22.00 to C$16.00 and set a “sector perform” rating for the company in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$18.20.
TMAC Resources (TSE:TMR) traded down 8.90% on Tuesday, hitting $9.62. 14,164 shares of the stock were exchanged. TMAC Resources has a 52-week low of $9.47 and a 52-week high of $20.18. The stock’s 50 day moving average price is $12.87 and its 200 day moving average price is $15.12. The firm’s market cap is $808.16 million.
TMAC Resources (TSE:TMR) last released its earnings results on Monday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.02. Equities research analysts forecast that TMAC Resources will post $0.10 earnings per share for the current year.
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In related news, insider Floyd D. Varley sold 6,530 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of C$15.10, for a total value of C$98,603.00.
About TMAC Resources
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.
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