TMAC Resources (TMR) Lowered to “Hold” at Desjardins
TMAC Resources (TSE:TMR) was downgraded by stock analysts at Desjardins from a “buy” rating to a “hold” rating in a report released on Tuesday. Desjardins also issued estimates for TMAC Resources’ FY2018 earnings at $0.51 EPS.
Other equities analysts have also recently issued research reports about the stock. TD Securities cut their price objective on shares of TMAC Resources from C$15.00 to C$14.00 and set a “speculative buy” rating on the stock in a research report on Monday, November 13th. CIBC cut their price objective on shares of TMAC Resources from C$12.00 to C$10.50 in a research report on Monday, November 13th. BMO Capital Markets reissued a “market perform” rating and set a C$13.00 price objective on shares of TMAC Resources in a research report on Friday, October 13th. Finally, Royal Bank of Canada cut their price objective on shares of TMAC Resources from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a research report on Monday, November 13th. Six investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of C$12.29.
Shares of TMAC Resources (TSE:TMR) opened at C$10.55 on Tuesday. The company has a market cap of $971.40 and a price-to-earnings ratio of -43.96. TMAC Resources has a 1 year low of C$6.90 and a 1 year high of C$19.00.
TMAC Resources Company Profile
TMAC Resources Inc acquires, explores for, evaluates, and develops mineral properties in Canada. The company primarily explores for gold deposits. Its principal asset is the Hope Bay Project covering an area of 1,101 square kilometers located in the Kitikmeot region of western Nunavut Territory. The company was incorporated in 2012 and is headquartered in Toronto, Canada.
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