Monument Mining (CVE:MMY) Shares Up 16.2% – Here’s Why

Shares of Monument Mining Limited (CVE:MMY) were up 16.2% during trading on Monday. The stock traded as high as C$0.83 and last traded at C$0.82. Approximately 610,191 shares changed hands during trading, an increase of 20% from the average session volume of 509,018 shares. The stock had previously closed at C$0.71.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$1.94 price target on shares of Monument Mining and gave the company a “buy” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, Monument Mining presently has a consensus rating of “Buy” and an average target price of C$1.94.

Monument Mining Stock Up 16.9%

The company has a market capitalization of C$287.54 million, a P/E ratio of 4.15 and a beta of 0.95. The firm’s 50 day moving average price is C$0.87 and its two-hundred day moving average price is C$0.93. The company has a current ratio of 16.46, a quick ratio of 2.36 and a debt-to-equity ratio of 0.08.

About Monument Mining

Monument Mining Limited operates as a gold producer, engages in the acquisition, exploration, and development of gold, precious metals, and other base metal properties in Canada, Australia, and Malaysia. The company holds 100% interest in the Selinsing gold mine, including the Selinsing, Buffalo Reef, Felda Land, and Famehub projects that are located in Pahang State within the Central Gold Belt of Western Malaysia; and the Murchison gold project portfolio comprising the Burnakura, Tuckanarra, and Gabanintha projects, which are located in the Murchison region of Western Australia.