TMAC Resources (TMR) Price Target Raised to C$12.00

TMAC Resources (TSE:TMR) had its target price increased by stock analysts at Royal Bank of Canada from C$10.00 to C$12.00 in a research report issued on Monday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.04% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. CIBC reduced their price target on shares of TMAC Resources from C$12.00 to C$10.50 in a research report on Monday, November 13th. BMO Capital Markets reduced their price target on shares of TMAC Resources from C$17.00 to C$13.00 in a research report on Monday, October 2nd. Desjardins restated a “buy” rating and issued a C$12.25 price target on shares of TMAC Resources in a research report on Tuesday, November 28th. Finally, TD Securities reduced their price target on shares of TMAC Resources from C$15.00 to C$14.00 and set a “speculative buy” rating on the stock in a research report on Monday, November 13th. Six research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of C$12.46.

Shares of TMAC Resources (TMR) traded up C$0.13 during mid-day trading on Monday, reaching C$10.71. 28,225 shares of the company’s stock traded hands, compared to its average volume of 44,247. The firm has a market cap of $981.49 and a price-to-earnings ratio of -44.63. TMAC Resources has a 52 week low of C$6.90 and a 52 week high of C$19.00.

TMAC Resources (TSE:TMR) last announced its quarterly earnings data on Thursday, November 9th. The company reported C($0.13) earnings per share for the quarter. TMAC Resources had a negative return on equity of 5.43% and a negative net margin of 49.32%.

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About TMAC Resources

TMAC Resources Inc acquires, explores for, evaluates, and develops mineral properties in Canada. The company primarily explores for gold deposits. Its principal asset is the Hope Bay Project covering an area of 1,101 square kilometers located in the Kitikmeot region of western Nunavut Territory. The company was incorporated in 2012 and is headquartered in Toronto, Canada.

Analyst Recommendations for TMAC Resources (TSE:TMR)

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