Monument Mining (CVE:MMY) Shares Up 16.2% – What’s Next?

Monument Mining Limited (CVE:MMY)’s share price shot up 16.2% during trading on Monday. The company traded as high as C$0.83 and last traded at C$0.82. 610,191 shares changed hands during trading, an increase of 20% from the average daily volume of 509,018 shares. The stock had previously closed at C$0.71.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$1.94 price objective on Monument Mining and gave the company a “buy” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, Monument Mining currently has an average rating of “Buy” and an average price target of C$1.94.

Monument Mining Trading Up 16.9%

The company has a market cap of C$287.54 million, a P/E ratio of 4.15 and a beta of 0.95. The company has a current ratio of 16.46, a quick ratio of 2.36 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of C$0.87 and a 200-day moving average price of C$0.93.

Monument Mining Company Profile

Monument Mining Limited operates as a gold producer, engages in the acquisition, exploration, and development of gold, precious metals, and other base metal properties in Canada, Australia, and Malaysia. The company holds 100% interest in the Selinsing gold mine, including the Selinsing, Buffalo Reef, Felda Land, and Famehub projects that are located in Pahang State within the Central Gold Belt of Western Malaysia; and the Murchison gold project portfolio comprising the Burnakura, Tuckanarra, and Gabanintha projects, which are located in the Murchison region of Western Australia.