Montage Gold (TSE:MAU) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank raised Montage Gold’s price target to C$20 from C$19 while maintaining a “sector outperform” rating, implying 7.12% potential upside.
• Analyst sentiment is broadly positive: eleven analysts rate the stock Buy, with recent targets ranging from C$18 to C$22; MarketBeat lists a consensus Buy rating and C$15.35 target.
• Montage Gold shares rose to C$18.67, near their 52-week high of C$19.28, supported by strong recent performance and a market capitalization of approximately C$7.53 billion.

Montage Gold (TSE:MAU - Get Free Report) had its price objective upped by investment analysts at Scotiabank from C$19.00 to C$20.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's target price suggests a potential upside of 7.12% from the stock's current price.

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

Montage Gold Price Performance

MAU stock traded up C$0.22 during trading on Wednesday, hitting C$18.67. The company had a trading volume of 879,503 shares, compared to its average volume of 1,174,544. The firm has a market capitalization of C$7.53 billion, a price-to-earnings ratio of -98.26 and a beta of 2.30. The company has a current ratio of 8.43, a quick ratio of 0.35 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of C$16.18 and a 200 day moving average of C$14.28. 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 issued its quarterly earnings results on Tuesday, August 11th. The company reported C($0.11) earnings per share for the quarter. As a group, research analysts predict that Montage Gold will post -0.04 earnings per share for the current 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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