Montage Gold (CVE:MAU) Trading Up 1.6% – Time to Buy?

Montage Gold Corp. (CVE:MAU) shares shot up 1.6% during mid-day trading on Thursday . The stock traded as high as C$3.72 and last traded at C$3.70. 180,469 shares were traded during mid-day trading, a decline of 41% from the average session volume of 306,976 shares. The stock had previously closed at C$3.64.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank increased their price target on Montage Gold from C$10.00 to C$15.00 in a research note on Monday, January 26th. BMO Capital Markets boosted their price objective on Montage Gold from C$10.00 to C$20.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Canaccord Genuity Group upped their price objective on shares of Montage Gold from C$9.00 to C$11.00 and gave the company a “speculative buy” rating in a report on Wednesday, December 17th. Stifel Nicolaus lifted their target price on shares of Montage Gold from C$9.25 to C$12.75 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Cormark boosted their price target on shares of Montage Gold from C$9.75 to C$10.50 and gave the company a “buy” rating in a research report on Thursday, December 18th. Ten analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Montage Gold currently has a consensus rating of “Buy” and a consensus price target of C$11.41.

Montage Gold Stock Performance

The business’s fifty day moving average price is C$3.70 and its 200-day moving average price is C$3.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.43 and a quick ratio of 0.36. The stock has a market capitalization of C$1.31 billion, a PE ratio of -26.33 and a beta of 1.55.

About Montage Gold

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.