Montage Gold (TSE:MAU) Hits New 52-Week High – Here’s Why

Shares of Montage Gold Corp. (TSE:MAU) reached a new 52-week high on Wednesday . The company traded as high as C$17.60 and last traded at C$17.51, with a volume of 342608 shares. The stock had previously closed at C$17.11.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Montage Gold from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. National Bank Financial lifted their price target on shares of Montage Gold from C$19.00 to C$20.00 in a research note on Friday, May 15th. Scotiabank boosted their price target on shares of Montage Gold from C$18.50 to C$19.00 and gave the company a “sector outperform” rating in a research report on Monday, June 22nd. Canaccord Genuity Group upped 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 research note on Friday, May 15th. Finally, BMO Capital Markets raised their price objective on Montage Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$14.62.

Montage Gold Stock Performance

The company has a quick ratio of 0.35, a current ratio of 8.43 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of C$15.97 and a 200 day simple moving average of C$13.95. The company has a market cap of C$7.06 billion, a price-to-earnings ratio of -92.11 and a beta of 2.27.

Montage Gold (TSE:MAU) last posted its quarterly earnings data on Thursday, May 14th. The company reported C($0.03) earnings per share for the quarter. On average, sell-side analysts predict that Montage Gold Corp. will post -0.04 earnings per share for the current fiscal 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.