Maverix Metals (NYSE:MMX) Given New C$8.25 Price Target at Raymond James

Maverix Metals (NYSE:MMX) had its price target reduced by Raymond James from C$8.50 to C$8.25 in a research note released on Wednesday morning, The Fly reports. Raymond James currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Maverix Metals from a hold rating to a buy rating and set a $5.25 price objective on the stock in a research report on Wednesday. Stifel Nicolaus boosted their price objective on Maverix Metals from C$8.50 to C$8.75 and gave the stock a buy rating in a research report on Wednesday, September 29th. Finally, CIBC boosted their price objective on Maverix Metals from C$9.00 to C$9.50 and gave the stock an outperformer rating in a research report on Tuesday, September 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $8.00.

Shares of MMX opened at $4.88 on Wednesday. Maverix Metals has a 52-week low of $4.21 and a 52-week high of $6.40. The business’s fifty day moving average is $4.60 and its 200-day moving average is $5.20. The firm has a market cap of $711.72 million, a price-to-earnings ratio of 18.07 and a beta of 1.05.

Maverix Metals (NYSE:MMX) last issued its quarterly earnings results on Thursday, August 12th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. Maverix Metals had a return on equity of 5.66% and a net margin of 67.36%. The company had revenue of $14.31 million for the quarter. On average, equities analysts expect that Maverix Metals will post 0.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Tuesday, August 31st were issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Monday, August 30th. Maverix Metals’s payout ratio is presently 55.56%.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Maverix Metals during the 1st quarter worth about $30,000. Proffitt & Goodson Inc. acquired a new position in Maverix Metals during the 2nd quarter worth about $32,000. Cubist Systematic Strategies LLC acquired a new position in Maverix Metals during the 2nd quarter worth about $54,000. Jane Street Group LLC acquired a new position in Maverix Metals during the 1st quarter worth about $58,000. Finally, Virtu Financial LLC lifted its holdings in Maverix Metals by 29.3% during the 1st quarter. Virtu Financial LLC now owns 15,165 shares of the company’s stock worth $80,000 after buying an additional 3,439 shares during the period. 10.26% of the stock is currently owned by hedge funds and other institutional investors.

Maverix Metals Company Profile

Maverix Metals, Inc engages in the evaluation and acquisition of mining royalties and precious metals streams. Its assets include La Colorada, San Jose, Mt. Carlton, Vivien, Beta Hunt, Silvertrip, Florida Canyon, Moose River, Shalipayco and Romero. The company was founded by Geoffrey A. Burns and Daniel O’Flaherty on September 5, 2008 and is headquartered in Vancouver, Canada.

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