Amaroq Minerals (LON:AMRQ) Shares Up 1.6% - Time to 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 stock traded as high as GBX 71 ($0.97) and last traded at GBX 70.60 ($0.96). 635,947 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 451,113 shares. The stock had previously closed at GBX 69.50 ($0.95).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their target price on shares of Amaroq Minerals from GBX 125 to GBX 110 and set a "speculative buy" rating on the stock in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Amaroq Minerals has an average rating of "Buy" and an average target price of GBX 117.50.

Amaroq Minerals Trading Up 1.6%

The company's 50-day moving average is GBX 71.63 and its 200-day moving average is GBX 80.85. The firm has a market cap of £320.60 million, a price-to-earnings ratio of -850.60 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.

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.

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