Montage Gold (CVE:MAU) Reaches New 1-Year High – Still a Buy?

Montage Gold Corp. (CVE:MAU)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$3.75 and last traded at C$3.75, with a volume of 370343 shares traded. The stock had previously closed at C$3.65.

Analysts Set New Price Targets

MAU has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Montage Gold from C$3.50 to C$4.75 in a research note on Friday, April 4th. Stifel Nicolaus set a C$4.60 price target on shares of Montage Gold and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Stifel Canada upgraded shares of Montage Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Cormark boosted their target price on Montage Gold from C$3.00 to C$4.50 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Finally, National Bank Financial raised Montage Gold to a “strong-buy” rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Montage Gold has a consensus rating of “Buy” and an average price target of C$4.02.

Montage Gold Price Performance

The firm has a market capitalization of C$1.32 billion, a P/E ratio of -26.68 and a beta of 1.55. The business’s fifty day moving average is C$2.72 and its 200 day moving average is C$2.37. The company has a current ratio of 26.33, a quick ratio of 0.36 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling at Montage Gold

In related news, Director David Field sold 93,100 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of C$3.03, for a total value of C$282,093.00. 34.16% of the stock is owned by corporate insiders.

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.