Montage Gold (TSE:MAU) Trading Down 7.8% – Here’s What Happened

Montage Gold Corp. (TSE:MAU)’s share price dropped 7.8% during trading on Friday . The stock traded as low as C$14.43 and last traded at C$14.45. Approximately 1,076,979 shares were traded during trading, a decline of 7% from the average daily volume of 1,156,463 shares. The stock had previously closed at C$15.68.

Analyst Ratings Changes

MAU has been the subject of several analyst reports. Stifel Nicolaus raised their target price on 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. National Bank Financial lifted their price objective on Montage Gold from C$19.00 to C$20.00 in a research report on Friday, May 15th. ATB Cormark Capital Markets lifted their price objective on Montage Gold from C$16.50 to C$18.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Canaccord Genuity Group lifted their price objective on Montage Gold from C$16.00 to C$18.00 and gave the company a “speculative buy” rating in a research report on Friday, May 15th. Finally, BMO Capital Markets lifted their price objective on Montage Gold from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Montage Gold presently has a consensus rating of “Buy” and an average price target of C$14.25.

Montage Gold Stock Performance

The firm has a market cap of C$5.82 billion, a PE ratio of -76.05 and a beta of 2.13. The company has a current ratio of 8.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is C$15.20.

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.