Montage Gold (TSE:MAU) Sets New 52-Week High – Here’s What Happened

Montage Gold Corp. (TSE:MAU) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$19.61 and last traded at C$19.48, with a volume of 478448 shares traded. The stock had previously closed at C$18.76.

Analysts Set New Price Targets

Several research firms recently commented on MAU. Canaccord Genuity Group raised their target price on Montage Gold from C$16.00 to C$18.00 and gave the stock a “speculative buy” rating in a research report on Friday, May 15th. Scotiabank increased their price objective on Montage Gold from C$19.00 to C$20.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, August 12th. ATB Cormark Capital Markets increased their price objective on Montage Gold from C$19.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. National Bank Financial lifted 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 Thursday, August 13th. Finally, Beacon Securities boosted their target price on shares of Montage Gold from C$18.00 to C$21.50 and gave the company a “buy” rating in a research note on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Montage Gold presently has a consensus rating of “Buy” and a consensus target price of C$16.77.

Montage Gold Trading Down 2.8%

The company has a market cap of C$7.74 billion, a price-to-earnings ratio of -147.23 and a beta of 2.30. The company’s fifty day moving average price is C$16.60 and its two-hundred day moving average price is C$14.67. The company has a quick ratio of 0.35, a current ratio of 8.43 and a debt-to-equity ratio of 0.31.

Montage Gold (TSE:MAU) last posted its earnings results on Tuesday, August 11th. The company reported C($0.11) earnings per share (EPS) for the quarter. Research analysts expect that Montage Gold Corp. will post -0.04 earnings per share for the current year.

Montage Gold Company Profile

Montage Gold Corp. (TSX:MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Kone project, located in Côte d’Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024 (the ‘UFS’), the Kone project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and is expected to enter production in late Q4-2026. The Company has also built a high-quality, multi-asset growth pipeline including the Didievi and Wende properties in Côte d’Ivoire, and a portfolio of prospective exploration tenements in Mauritania.