Montage Gold (TSE:MAU) Reaches New 12-Month High – What’s Next?

Montage Gold Corp. (TSE:MAU)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.60 and last traded at C$17.51, with a volume of 342608 shares. The stock had previously closed at C$17.11.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAU. BMO Capital Markets boosted their price objective on Montage Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Stifel Nicolaus lifted their target price on shares of Montage Gold from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Scotiabank lifted their price objective on shares of Montage Gold from C$18.50 to C$19.00 and gave the company a “sector outperform” rating in a report on Monday, June 22nd. National Bank Financial lifted their price target on Montage Gold from C$19.00 to C$20.00 in a research note on Friday, May 15th. Finally, Canaccord Genuity Group raised their price objective on Montage Gold from C$16.00 to C$18.00 and gave the company a “speculative buy” rating in a report on Friday, May 15th. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$14.62.

Montage Gold Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.35 and a current ratio of 8.43. The firm’s 50 day moving average is C$16.06 and its 200-day moving average is C$14.04. The company has a market cap of C$7.19 billion, a PE ratio of -93.89 and a beta of 2.30.

Montage Gold (TSE:MAU) last announced its quarterly earnings data on Thursday, May 14th. The company reported C($0.03) EPS for the quarter. On average, research analysts anticipate that Montage Gold Corp. will post -0.04 earnings per share 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.