Amaroq Minerals (LON:AMRQ) Trading 1.6% Higher - Still a Buy?

Key Points

• Amaroq Minerals' stock rose by 1.6%, trading at GBX 70.60 ($0.96), with a trading volume increase of 41% from its average.
• Canaccord Genuity downgraded Amaroq's target price from GBX 125 to GBX 110, but the stock still holds an average rating of "Buy" with a target price of GBX 117.50.
• The company focuses on gold and strategic metal properties in South Greenland, with its principal asset being the 100% interest in the Nalunaq Gold mine.

Amaroq Minerals Ltd. (LON:AMRQ - Get Free Report)'s stock price shot up 1.6% during trading on Wednesday . The company traded as high as GBX 71 ($0.96) and last traded at GBX 70.60 ($0.95). 635,947 shares were traded during trading, an increase of 41% from the average session volume of 451,113 shares. The stock had previously closed at GBX 69.50 ($0.94).

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their target price on Amaroq Minerals from GBX 125 to GBX 110 and set a "speculative buy" rating for the company in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Amaroq Minerals has a consensus rating of "Buy" and an average target price of GBX 117.50.

Amaroq Minerals Stock Up 0.7%

The firm has a market cap of £317.87 million, a P/E ratio of -843.37 and a beta of 0.20. The company has a debt-to-equity ratio of 32.09, a quick ratio of 9.04 and a current ratio of 0.67. The stock's 50 day simple moving average is GBX 71.38 and its 200 day simple moving average is GBX 80.38.

Amaroq Minerals Company Profile

Amaroq's principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company's principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals.