TNR Gold (CVE:TNR) Stock Price Down 8% - Here's Why

Key Points

• Shares fell 8%, trading down to C$0.23 on Wednesday with 488,436 shares changing hands—about an 18% increase versus average volume.
• Analysts have a consensus "Buy" rating on TNR Gold with a consensus price target of C$0.35, including a C$0.35 target and "buy" from Fundamental Research.
• Insider activity: Director Kirill Klip sold 200,000 shares at C$0.17 (C$34,000), and company insiders collectively own about 15.12% of the stock.

Shares of TNR Gold Corp. (CVE:TNR - Get Free Report) traded down 8% during trading on Wednesday . The stock traded as low as C$0.23 and last traded at C$0.23. 488,436 shares changed hands during trading, an increase of 18% from the average session volume of 415,680 shares. The stock had previously closed at C$0.25.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.35 price target on shares of TNR Gold and gave the company a "buy" rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, TNR Gold currently has a consensus rating of "Buy" and a consensus price target of C$0.35.

TNR Gold Trading Up 2.0%

The firm has a fifty day moving average of C$0.18 and a 200 day moving average of C$0.16. The company has a market capitalization of C$53.32 million, a P/E ratio of -25.50 and a beta of 0.47.

Insiders Place Their Bets

In related news, Director Kirill Klip sold 200,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of C$0.17, for a total transaction of C$34,000.00. Following the transaction, the director owned 27,163,000 shares in the company, valued at C$4,617,710. This represents a 0.73% decrease in their ownership of the stock. 15.12% of the stock is currently owned by company insiders.

About TNR Gold

TNR Gold Corp. engages in the acquiring and exploring mineral properties. It explores for gold, copper, silver, and lithium deposits. The company holds a 90% interest in the Shotgun gold project located in the southwestern Alaska. It also holds royalty interests in the Los Azules Copper and Mariana Lithium projects located in Argentina. TNR Gold Corp. was incorporated in 1988 and is headquartered in Vancouver, Canada.

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