Amaroq Minerals (LON:AMRQ) Trading 10.5% Higher – Time to Buy?

Amaroq Minerals Ltd. (LON:AMRQ)’s share price rose 10.5% during trading on Friday . The stock traded as high as GBX 119 and last traded at GBX 116. Approximately 641,142 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 1,112,047 shares. The stock had previously closed at GBX 105.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMRQ. Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 120 price target on shares of Amaroq Minerals in a report on Thursday, December 4th. Panmure Gordon reaffirmed a “buy” rating and set a GBX 125 price objective on shares of Amaroq Minerals in a report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of GBX 122.50.

Amaroq Minerals Stock Up 9.8%

The stock has a 50-day moving average of GBX 95.02 and a 200 day moving average of GBX 82.85. The company has a market capitalization of £534.59 million, a PE ratio of -22.61 and a beta of 0.20. The company has a quick ratio of 9.04, a current ratio of 0.67 and a debt-to-equity ratio of 32.09.

Amaroq Minerals Company Profile

Amaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals.