Montage Gold (TSE:MAU) Trading Down 7.8% – Here’s What Happened

Shares of Montage Gold Corp. (TSE:MAU) traded down 7.8% on Friday . The company traded as low as C$14.43 and last traded at C$14.45. 1,076,979 shares changed hands during trading, a decline of 7% from the average session volume of 1,156,463 shares. The stock had previously closed at C$15.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on Montage Gold from C$16.00 to C$18.00 and gave the stock a “speculative buy” rating in a research report on Friday, May 15th. ATB Cormark Capital Markets boosted their target price on Montage Gold from C$16.50 to C$18.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. National Bank Financial boosted their target price on Montage Gold from C$19.00 to C$20.00 in a research report on Friday, May 15th. Stifel Nicolaus boosted their target price on 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. Finally, BMO Capital Markets boosted their target price on Montage Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$14.25.

Montage Gold Stock Down 7.8%

The business’s fifty day moving average price is C$15.20. The company has a market cap of C$5.82 billion, a price-to-earnings ratio of -76.05 and a beta of 2.13. The company has a current ratio of 8.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31.

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.