Monument Mining (CVE:MMY) Stock Price Up 6% – Time to Buy?

Monument Mining Limited (CVE:MMY) shares shot up 6% on Friday . The stock traded as high as C$0.92 and last traded at C$0.89. 684,657 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 562,670 shares. The stock had previously closed at C$0.84.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$1.82 price objective on shares of Monument Mining and gave the stock a “buy” rating in a research note on Friday, July 3rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Monument Mining presently has a consensus rating of “Buy” and an average target price of C$1.82.

Monument Mining Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.68 and a quick ratio of 2.36. The firm has a market cap of C$308.13 million, a price-to-earnings ratio of 4.24 and a beta of 0.93. The stock has a 50-day moving average price of C$0.80 and a 200 day moving average price of C$0.94.

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.