Amaroq Minerals (LON:AMRQ) Hits New 52-Week High – Here’s Why

Amaroq Minerals Ltd. (LON:AMRQ) hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 155 and last traded at GBX 149.87, with a volume of 473482 shares changing hands. The stock had previously closed at GBX 137.50.

Analyst Ratings Changes

AMRQ has been the subject of several analyst reports. Canaccord Genuity Group increased their price objective on Amaroq Minerals from GBX 120 to GBX 150 and gave the stock a “speculative buy” rating in a research note on Thursday, January 15th. Panmure Gordon reiterated a “buy” rating and issued a GBX 125 target price on shares of Amaroq Minerals in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Amaroq Minerals has an average rating of “Buy” and an average price target of GBX 137.50.

Amaroq Minerals Stock Performance

The company’s 50-day moving average is GBX 102.63 and its two-hundred day moving average is GBX 86.25. The company has a quick ratio of 9.04, a current ratio of 0.67 and a debt-to-equity ratio of 32.09. The company has a market cap of £697.79 million, a P/E ratio of -29.51 and a beta of 0.20.

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.