Amaroq Minerals (LON:AMRQ) Trading 10% Higher – Here’s What Happened

Shares of Amaroq Minerals Ltd. (LON:AMRQ) shot up 10% during trading on Friday . The company traded as high as GBX 139.25 and last traded at GBX 136.43. 3,432,525 shares traded hands during trading, an increase of 128% from the average session volume of 1,502,730 shares. The stock had previously closed at GBX 124.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMRQ shares. Canaccord Genuity Group lifted their price objective on Amaroq Minerals from GBX 120 to GBX 150 and gave the stock a “speculative buy” rating in a report on Thursday, January 15th. Panmure Gordon restated a “buy” rating and issued a GBX 125 target price on shares of Amaroq Minerals in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Amaroq Minerals presently has a consensus rating of “Buy” and an average target price of GBX 137.50.

Amaroq Minerals Trading Up 10.9%

The company has a current ratio of 0.67, a quick ratio of 9.04 and a debt-to-equity ratio of 32.09. The company has a fifty day simple moving average of GBX 102.63 and a 200-day simple moving average of GBX 86.17. The company has a market capitalization of £637.52 million, a PE ratio of -26.96 and a beta of 0.20.

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.