TNR Gold (CVE:TNR) Shares Up 6.5% – Here’s Why

TNR Gold Corp. (CVE:TNR)’s stock price shot up 6.5% during mid-day trading on Wednesday . The stock traded as high as C$0.25 and last traded at C$0.25. 390,000 shares changed hands during trading, an increase of 1% from the average session volume of 385,888 shares. The stock had previously closed at C$0.23.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.35 target price on TNR Gold and gave the stock a “buy” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, TNR Gold currently has a consensus rating of “Buy” and an average target price of C$0.35.

TNR Gold Trading Up 4.3%

The company has a 50-day moving average price of C$0.22 and a two-hundred day moving average price of C$0.18. The stock has a market capitalization of C$51.48 million, a P/E ratio of -24.00 and a beta of 0.64.

Insider Activity

In other news, Director Kirill Klip sold 200,000 shares of TNR Gold stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of C$0.17, for a total value of C$34,000.00. Following the completion of the transaction, the director directly owned 27,163,000 shares of the company’s stock, valued at approximately C$4,617,710. This trade represents a 0.73% decrease in their position. Also, insider Jon Christian Evensen acquired 262,440 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of C$0.24 per share, with a total value of C$62,985.60. Following the completion of the transaction, the insider owned 8,738,840 shares in the company, valued at approximately C$2,097,321.60. This represents a 3.10% increase in their position. Company insiders own 15.12% of the company’s stock.

TNR Gold Company Profile

TNR Gold Corp. engages in the acquiring and exploring mineral properties. It explores for gold, copper, silver, and lithium deposits. The company holds a 90% interest in the Shotgun gold project located in the southwestern Alaska. It also holds royalty interests in the Los Azules Copper and Mariana Lithium projects located in Argentina. TNR Gold Corp. was incorporated in 1988 and is headquartered in Vancouver, Canada.