Montage Gold (TSE:MAU) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Montage Gold’s price target to C$22 from C$19 while maintaining an “outperform” rating, implying 17.84% upside from the previous close.
• Analyst sentiment remains positive: eleven analysts rate the stock a Buy, giving Montage Gold a consensus “Buy” rating, though the average target is lower at C$15.35.
• Montage Gold shares rose to C$18.67, near their 52-week high of C$19.28. The company reported a quarterly loss of C$0.11 per share, and analysts expect a full-year loss of C$0.04 per share.

Montage Gold (TSE:MAU - Get Free Report) had its price target raised by equities researchers at ATB Cormark Capital Markets from C$19.00 to C$22.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective indicates a potential upside of 17.84% from the stock's previous close.

A number of other analysts have also weighed in on the stock. National Bank Financial raised their target price on shares of Montage Gold from C$19.00 to C$20.00 in a research report on Friday, May 15th. BMO Capital Markets increased their price target on 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. Stifel Nicolaus raised their price objective on Montage Gold from C$16.00 to C$18.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Canaccord Genuity Group upped their target price on Montage Gold from C$16.00 to C$18.00 and gave the stock a "speculative buy" rating in a report on Friday, May 15th. Finally, Scotiabank lifted their price target on Montage Gold from C$18.50 to C$19.00 and gave the company a "sector outperform" rating in a research note on Monday, June 22nd. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Montage Gold presently has a consensus rating of "Buy" and an average target price of C$15.35.

Montage Gold Price Performance

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

Montage Gold (TSE:MAU - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported C($0.11) earnings per share (EPS) for the quarter. Equities research 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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