Montage Gold (CVE:MAU) Reaches New 1-Year High After Analyst Upgrade

Shares of Montage Gold Corp. (CVE:MAU) reached a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from C$3.20 to C$4.85. The company traded as high as C$2.61 and last traded at C$2.53, with a volume of 676209 shares trading hands. The stock had previously closed at C$2.49.

Other research analysts have also recently issued reports about the company. Ventum Cap Mkts raised Montage Gold to a “strong-buy” rating in a report on Friday, September 27th. Raymond James boosted their target price on shares of Montage Gold from C$1.65 to C$2.75 in a report on Thursday, August 15th. National Bankshares set a C$2.50 target price on shares of Montage Gold and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Cormark raised their price objective on Montage Gold from C$2.00 to C$2.50 in a research report on Thursday, August 15th. Finally, BMO Capital Markets boosted their target price on Montage Gold from C$3.00 to C$3.75 in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$3.27.

Montage Gold Stock Performance

The firm’s fifty day moving average price is C$1.97 and its 200 day moving average price is C$1.66. The firm has a market cap of C$854.56 million, a P/E ratio of -16.53 and a beta of 1.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.36 and a current ratio of 5.75.

Montage Gold (CVE:MAU) last released its quarterly earnings results on Thursday, August 22nd. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.01) by C($0.02). Sell-side analysts expect that Montage Gold Corp. will post -0.04 EPS for the current fiscal year.

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.