CIBC Forecasts Strong Price Appreciation for Aya Gold & Silver (TSE:AYA) Stock

Key Points

• CIBC has raised its price target for Aya Gold & Silver from C$22.00 to C$23.00, indicating a potential upside of 84.15% from the stock's previous close.
• Aya Gold & Silver's stock price recently fell by 18.4% to C$12.49, despite positive analyst ratings, with an average target price of C$20.43.
• The company is actively engaged in the acquisition and exploration of mining properties, focusing on projects in Morocco, including the Zgounder project.

Aya Gold & Silver (TSE:AYA - Get Free Report) had its price target raised by research analysts at CIBC from C$22.00 to C$23.00 in a report released on Thursday,BayStreet.CA reports. CIBC's target price points to a potential upside of 84.15% from the stock's previous close.

Other analysts also recently issued research reports about the company. Cormark lifted their target price on Aya Gold & Silver from C$12.50 to C$17.50 in a research report on Tuesday, September 16th. Citigroup lowered their price target on Aya Gold & Silver from C$23.00 to C$22.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Scotiabank lowered their price target on Aya Gold & Silver from C$19.00 to C$18.50 and set an "outperform" rating on the stock in a research report on Monday, June 23rd. Desjardins set a C$20.00 price target on Aya Gold & Silver and gave the stock a "buy" rating in a research report on Thursday, June 19th. Finally, National Bankshares upped their target price on Aya Gold & Silver from C$18.75 to C$19.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$20.43.

Aya Gold & Silver Stock Down 18.4%

Shares of Aya Gold & Silver stock traded down C$2.81 during trading on Thursday, reaching C$12.49. The stock had a trading volume of 8,385,919 shares, compared to its average volume of 1,049,022. The company has a current ratio of 2.06, a quick ratio of 3.28 and a debt-to-equity ratio of 34.69. The stock has a fifty day moving average price of C$13.65 and a two-hundred day moving average price of C$12.33. The company has a market capitalization of C$1.77 billion, a price-to-earnings ratio of -104.08 and a beta of 0.93. Aya Gold & Silver has a 52 week low of C$8.52 and a 52 week high of C$19.56.

About Aya Gold & Silver

Aya Gold & Silver Inc is engaged in acquisition, exploration, evaluation, and development of mining properties. The company and its subsidiaries are at the development stage for its Zgounder project and exploration and evaluation stage for projects in Morocco. Its other project includes Boumadine; Amizmiz; Azegour and others.

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