Scotiabank Issues Positive Forecast for Montage Gold (TSE:MAU) Stock Price

Montage Gold (TSE:MAU) had its target price hoisted by research analysts at Scotiabank from C$18.50 to C$19.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 14.67% from the company’s previous close.

A number of other brokerages have also recently weighed in on MAU. Stifel Nicolaus lifted their price target on Montage Gold from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. National Bank Financial increased their price objective on Montage Gold from C$19.00 to C$20.00 in a report on Friday, May 15th. Canaccord Genuity Group raised their price objective on shares of Montage Gold from C$16.00 to C$18.00 and gave the company a “speculative buy” rating in a research report on Friday, May 15th. BMO Capital Markets upped their price target on Montage Gold from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, ATB Cormark Capital Markets lifted their target price on shares of Montage Gold from C$16.50 to C$18.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Eleven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$14.62.

Montage Gold Stock Performance

Shares of TSE:MAU traded down C$0.07 during trading on Monday, hitting C$16.57. 355,495 shares of the company traded hands, compared to its average volume of 1,263,633. The stock has a market capitalization of C$6.68 billion, a price-to-earnings ratio of -87.21 and a beta of 2.13. The business’s fifty day moving average is C$15.15 and its 200-day moving average is C$13.16. The company has a quick ratio of 0.35, a current ratio of 8.43 and a debt-to-equity ratio of 0.31. Montage Gold has a one year low of C$4.24 and a one year high of C$17.60.

Montage Gold (TSE:MAU) last issued its earnings results on Thursday, May 14th. The company reported C$0.03 earnings per share for the quarter. As a group, equities analysts predict that Montage Gold will post -0.04 earnings per share for the current fiscal year.

About Montage Gold

Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 2,259 square kilometers located in the Côte d'Ivoire, West Africa. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.