Amaroq Minerals (LON:AMRQ) Shares Up 2.5% – Here’s What Happened

Amaroq Minerals Ltd. (LON:AMRQ)’s share price rose 2.5% during mid-day trading on Tuesday . The stock traded as high as GBX 110 and last traded at GBX 107.10. Approximately 444,903 shares traded hands during trading, a decline of 59% from the average daily volume of 1,088,225 shares. The stock had previously closed at GBX 104.50.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMRQ shares. Panmure Gordon reaffirmed a “buy” rating and set a GBX 125 target price on shares of Amaroq Minerals in a report on Wednesday, November 19th. Canaccord Genuity Group upped their price objective on Amaroq Minerals from GBX 120 to GBX 150 and gave the company a “speculative buy” rating in a report on Thursday, January 15th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 137.50.

Amaroq Minerals Stock Down 4.8%

The company has a market cap of £469.51 million, a P/E ratio of -19.78 and a beta of 0.20. The stock has a 50-day moving average of GBX 119.47 and a 200 day moving average of GBX 97.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 9.04.

Insiders Place Their Bets

In other news, insider Eldur Ólafsson sold 61,756 shares of Amaroq Minerals stock in a transaction on Monday, February 16th. The stock was sold at an average price of GBX 11, for a total value of £6,793.16. 7.99% of the stock is owned by insiders.

Amaroq Minerals Company Profile

Amaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals.