Amaroq Minerals (LON:AMRQ) Trading Down 1.5% - Here's What Happened

Key Points

• Amaroq Minerals' shares fell by 1.5% on Tuesday, with the stock last trading at GBX 67 ($0.90).
• Canaccord Genuity has revised its price target for Amaroq Minerals, dropping it from GBX 125 to 110, while maintaining a "speculative buy" rating.
• The company focuses on the exploration and development of gold and strategic metals in South Greenland, notably holding a 100% interest in the Nalunaq Gold mine.

Shares of Amaroq Minerals Ltd. (LON:AMRQ - Get Free Report) fell 1.5% during trading on Tuesday . The stock traded as low as GBX 66.50 ($0.90) and last traded at GBX 67 ($0.90). 425,871 shares were traded during trading, a decline of 3% from the average session volume of 440,354 shares. The stock had previously closed at GBX 68 ($0.92).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price target on shares of 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, the stock presently has an average rating of "Buy" and a consensus target price of GBX 117.50.

Amaroq Minerals Stock Down 3.0%

The firm has a market capitalization of £472.62 million, a PE ratio of -12.06 and a beta of 0.20. The firm's 50 day moving average price is GBX 75.19 and its two-hundred day moving average price is GBX 84.86. The company has a quick ratio of 9.04, a current ratio of 0.67 and a debt-to-equity ratio of 32.09.

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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