Mandalay Resources Corp. (TSE:MND) had its price target reduced by BMO Capital Markets from C$0.60 to C$0.50 in a research report released on Tuesday. BMO Capital Markets currently has an outperform rating on the stock.

Separately, Raymond James Financial, Inc. downgraded shares of Mandalay Resources Corp. from an outperform rating to a market perform rating and dropped their target price for the stock from C$0.70 to C$0.55 in a report on Friday, June 23rd.

Shares of Mandalay Resources Corp. (TSE MND) opened at 0.32 on Tuesday. The company’s 50-day moving average price is $0.34 and its 200 day moving average price is $0.46. Mandalay Resources Corp. has a 1-year low of $0.31 and a 1-year high of $1.07. The company’s market cap is $144.41 million.

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In other news, insider Gmt Capital Corp bought 144,300 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average price of C$0.29 per share, with a total value of C$41,847.00. Insiders purchased a total of 426,100 shares of company stock valued at $123,320 in the last ninety days.

About Mandalay Resources Corp.

Mandalay Resources Corporation is a gold, silver and antimony producer engaged in mining and related activities, including acquisition, exploration, extraction, processing and reclamation. The Company’s segments include Australia, Chile, Sweden and Canada. The Company’s producing assets are its Costerfield gold-antimony mine in Victoria, Australia; its Cerro Bayo silver-gold mine in Patagonia, Chile; and its Bjorkdal gold mine in northern Sweden.

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