Maverix Metals (NYSE:MMX) had its price target raised by stock analysts at CIBC from $7.50 to $8.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target indicates a potential upside of 48.42% from the company’s previous close.
A number of other brokerages have also issued reports on MMX. Zacks Investment Research upgraded Maverix Metals from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, August 19th. Stifel Nicolaus lowered their price target on Maverix Metals from $7.90 to $7.60 and set a “buy” rating for the company in a report on Tuesday, May 19th.
Shares of NYSE MMX traded up $0.02 during trading hours on Wednesday, reaching $5.39. The stock had a trading volume of 5,575 shares, compared to its average volume of 189,092. The company has a current ratio of 12.76, a quick ratio of 12.76 and a debt-to-equity ratio of 0.29. The firm has a market cap of $688.05 million, a price-to-earnings ratio of -133.72 and a beta of 1.64. The business’s fifty day moving average price is $4.58 and its two-hundred day moving average price is $4.29. Maverix Metals has a 52-week low of $2.51 and a 52-week high of $5.72.
Maverix Metals (NYSE:MMX) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $10.97 million during the quarter, compared to analyst estimates of $10.70 million. Maverix Metals had a positive return on equity of 3.74% and a negative net margin of 12.99%. Equities research analysts anticipate that Maverix Metals will post 0.08 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. U S Global Investors Inc. raised its stake in Maverix Metals by 13.1% in the second quarter. U S Global Investors Inc. now owns 848,000 shares of the company’s stock worth $3,777,000 after buying an additional 98,000 shares in the last quarter. Bank of America Corp DE bought a new position in Maverix Metals in the second quarter worth approximately $81,000. Advisor Group Holdings Inc. increased its position in shares of Maverix Metals by 414.6% during the second quarter. Advisor Group Holdings Inc. now owns 38,759 shares of the company’s stock worth $172,000 after purchasing an additional 31,227 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Maverix Metals during the second quarter worth $964,000. Finally, Bank of Montreal Can increased its position in shares of Maverix Metals by 33.3% during the second quarter. Bank of Montreal Can now owns 18,000 shares of the company’s stock worth $78,000 after purchasing an additional 4,500 shares in the last quarter. 11.13% of the stock is owned by institutional investors.
About Maverix Metals
Maverix Metals Inc, a precious metals royalty and streaming company, engages in the exploration and development of mineral properties. The company explores for gold, silver, and other precious metals. It holds a portfolio of 46 development and exploration stage royalties in the United States, Canada, Australia, and internationally.
Further Reading: Price to Earnings Ratio (PE) Basics
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