Canaccord Genuity Group Has Lowered Expectations for Amaroq Minerals (LON:AMRQ) Stock Price

Key Points

• Canaccord Genuity Group has lowered its price target for Amaroq Minerals from GBX 125 ($1.70) to GBX 110 ($1.49), while maintaining a "speculative buy" rating.
• The company's current stock price is GBX 70 ($0.95), which indicates a potential upside of 57.14% based on the new price target.
• Amaroq Minerals focuses on the exploration and development of gold and strategic metal properties in South Greenland, with its primary asset being the Nalunaq Gold mine.

Amaroq Minerals (LON:AMRQ - Get Free Report) had its price objective cut by equities researchers at Canaccord Genuity Group from GBX 125 ($1.70) to GBX 110 ($1.49) in a note issued to investors on Thursday,Digital Look reports. The firm presently has a "speculative buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 57.14% from the company's current price.

Amaroq Minerals Stock Performance

Shares of AMRQ traded down GBX 4.50 ($0.06) during mid-day trading on Thursday, hitting GBX 70 ($0.95). 1,570,249 shares of the company's stock were exchanged, compared to its average volume of 409,193. The stock's 50-day simple moving average is GBX 78.45 and its 200-day simple moving average is GBX 87.63. The firm has a market cap of £508.97 million, a price-to-earnings ratio of -12.99 and a beta of 0.20. 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 has a 52 week low of GBX 56 ($0.76) and a 52 week high of GBX 121.50 ($1.65).

About Amaroq Minerals

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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