Sonoro Gold Corp. (SMO.V) (CVE:SGO) Shares Up 8.9% - Here's Why

Key Points

• Sonoro Gold shares rose 8.9% to C$0.25 in mid-day trading with 250,912 shares changing hands, about 7% below its average session volume.
• Analyst outlook is positive: Fundamental Research gave a "buy" rating and a C$0.83 price target, and the consensus rating on the stock is "Buy" with an average target of C$0.83.
• Financial risks remain high: the company has a very high debt-to-equity ratio (702.99), extremely low liquidity (quick ratio 0.02, current ratio 0.03) and a negative P/E, indicating leverage and earnings concerns despite the analyst optimism.

Sonoro Gold Corp. (SMO.V) (CVE:SGO - Get Free Report) shot up 8.9% during mid-day trading on Friday . The stock traded as high as C$0.25 and last traded at C$0.25. 250,912 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 270,891 shares. The stock had previously closed at C$0.23.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.83 target price on Sonoro Gold Corp. (SMO.V) and gave the stock a "buy" rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Sonoro Gold Corp. (SMO.V) presently has an average rating of "Buy" and a consensus price target of C$0.83.

Sonoro Gold Corp. (SMO.V) Stock Performance

The company has a 50-day simple moving average of C$0.24 and a two-hundred day simple moving average of C$0.25. The company has a debt-to-equity ratio of 702.99, a quick ratio of 0.02 and a current ratio of 0.03. The firm has a market capitalization of C$68.93 million, a P/E ratio of -8.83 and a beta of 0.85.

About Sonoro Gold Corp. (SMO.V)

Sonoro Metals Corp., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Mexico and the United States. It primarily explores for gold and silver. The company holds interest in the San Marcial project covering an area of approximately 1,000 hectares located in Sonora, Mexico. It also has an option to earn a 60% interest in the Hilltop Gold project consisting of 12,836 hectares located in southeast of Fairbanks, Alaska; and a 100% interest in the Calera Group of Concessions that covers an area of approximately 1,500 hectares located in the municipality of Cucurpe, Mexico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.