Montage Gold (CVE:MAU) Trading Up 1.6% – Here’s What Happened

Shares of Montage Gold Corp. (CVE:MAU) were up 1.6% during mid-day trading on Friday . The stock traded as high as C$3.72 and last traded at C$3.70. Approximately 180,469 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 306,976 shares. The stock had previously closed at C$3.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group set a C$7.50 price target on shares of Montage Gold and gave the company a “speculative buy” rating in a research report on Friday, September 12th. National Bankshares upped their target price on shares of Montage Gold from C$8.00 to C$8.75 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Scotiabank set a C$6.25 price target on shares of Montage Gold and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Beacon Securities boosted their price objective on shares of Montage Gold from C$6.00 to C$7.80 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, SCP Equity Research upped their price objective on Montage Gold from C$6.50 to C$8.75 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$6.51.

Montage Gold Stock Performance

The firm has a market capitalization of C$1.31 billion, a PE ratio of -26.33 and a beta of 1.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 26.33 and a quick ratio of 0.36. The business has a 50-day simple moving average of C$3.70 and a 200-day simple moving average of C$3.70.

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.