Montage Gold (TSE:MAU) Stock Price Up 10.4% – Here’s What Happened

Montage Gold Corp. (TSE:MAU) shares shot up 10.4% during mid-day trading on Wednesday . The stock traded as high as C$17.00 and last traded at C$16.98. Approximately 1,003,446 shares changed hands during trading, a decline of 15% from the average session volume of 1,182,740 shares. The stock had previously closed at C$15.38.

Analysts Set New Price Targets

MAU has been the subject of several research reports. ATB Cormark Capital Markets lifted their target price on Montage Gold from C$16.50 to C$18.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Stifel Nicolaus increased their price target on shares of Montage Gold from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. BMO Capital Markets raised their price objective on shares of Montage Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Canaccord Genuity Group lifted their price objective on shares of Montage Gold from C$16.00 to C$18.00 and gave the company a “speculative buy” rating in a report on Friday, May 15th. Finally, National Bank Financial upped their target price on shares of Montage Gold from C$19.00 to C$20.00 in a research note on Friday, May 15th. Eleven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Montage Gold currently has an average rating of “Buy” and a consensus target price of C$14.62.

Montage Gold Stock Performance

The stock has a market capitalization of C$6.85 billion, a PE ratio of -89.37 and a beta of 2.27. The stock has a fifty day moving average of C$15.70 and a 200-day moving average of C$13.73. The company has a quick ratio of 0.35, a current ratio of 8.43 and a debt-to-equity ratio of 0.31.

Montage Gold (TSE:MAU) last released its earnings results on Thursday, May 14th. The company reported C($0.03) EPS for the quarter. Equities analysts anticipate that Montage Gold Corp. will post -0.04 earnings per share for the current fiscal year.

About Montage Gold

Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 2,259 square kilometers located in the Côte d'Ivoire, West Africa. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.