Montage Gold (TSE:MAU) Price Target Raised to C$21.00

Key Points

• Stifel Nicolaus raised Montage Gold’s price target to C$21.00 from C$18.00 and maintained a “buy” rating, implying 12.48% upside from the prior close.
• Several brokerages also increased their targets, with ATB Cormark and BMO Capital Markets setting the highest at C$22.00. Eleven analysts rate the stock a Buy, while MarketBeat reports a consensus “Buy” rating.
• Montage Gold shares rose to C$18.67, near their 52-week high of C$19.28, and the company reported quarterly EPS of negative C$0.11 versus analysts’ full-year forecast of negative C$0.04.

Montage Gold (TSE:MAU - Get Free Report) had its price objective boosted by analysts at Stifel Nicolaus from C$18.00 to C$21.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price points to a potential upside of 12.48% from the company's previous close.

A number of other brokerages have also commented on MAU. Scotiabank upped their target price on Montage Gold from C$19.00 to C$20.00 and gave the company a "sector outperform" rating in a research report on Wednesday. ATB Cormark Capital Markets raised their price target on shares of Montage Gold from C$19.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on shares of Montage Gold from C$20.00 to C$22.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. National Bank Financial upped their price objective on shares of Montage Gold from C$19.00 to C$20.00 in a report on Friday, May 15th. Finally, Canaccord Genuity Group increased their price objective on shares of Montage Gold from C$16.00 to C$18.00 and gave the stock a "speculative buy" rating in a research note on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$15.35.

Montage Gold Stock Performance

MAU traded up C$0.22 on Wednesday, reaching C$18.67. 879,503 shares of the stock were exchanged, compared to its average volume of 1,174,544. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.43 and a quick ratio of 0.35. The company's 50-day moving average price is C$16.18 and its 200 day moving average price is C$14.28. The firm has a market capitalization of C$7.53 billion, a PE ratio of -98.26 and a beta of 2.30. Montage Gold has a fifty-two week low of C$5.03 and a fifty-two week high of C$19.28.

Montage Gold (TSE:MAU - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C($0.11) earnings per share for the quarter. As a group, sell-side analysts forecast that Montage Gold will post -0.04 EPS for the current fiscal year.

Montage Gold Company Profile

Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 2,259 square kilometers located in the Côte d'Ivoire, West Africa. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.

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