Montage Gold (TSE:MAU) Hits New 52-Week High – What’s Next?

Shares of Montage Gold Corp. (TSE:MAU) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$18.75 and last traded at C$18.73, with a volume of 1816183 shares. The stock had previously closed at C$18.30.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MAU shares. Scotiabank raised their price target on shares of Montage Gold from C$19.00 to C$20.00 and gave the company a “sector outperform” rating in a report on Wednesday. Canaccord Genuity Group upped their price objective on Montage Gold from C$16.00 to C$18.00 and gave the stock a “speculative buy” rating in a report on Friday, May 15th. BMO Capital Markets increased their price objective on Montage Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. ATB Cormark Capital Markets lifted their target price on Montage Gold from C$19.00 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their target price on Montage Gold from C$18.00 to C$21.00 and gave the stock a “buy” rating in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$15.35.

Montage Gold Stock Performance

The firm’s 50-day moving average price is C$16.25 and its 200 day moving average price is C$14.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.35 and a current ratio of 8.43. The company has a market cap of C$7.58 billion, a price-to-earnings ratio of -98.89 and a beta of 2.30.

Montage Gold (TSE:MAU) last posted its quarterly earnings results on Tuesday, August 11th. The company reported C($0.11) earnings per share for the quarter. On average, sell-side analysts anticipate that Montage Gold Corp. will post -0.04 EPS for the current year.

Montage Gold Company Profile

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.