Cormark Increases Montage Gold (CVE:MAU) Price Target to C$9.75

Montage Gold (CVE:MAU) had its target price increased by research analysts at Cormark from C$9.50 to C$9.75 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Cormark’s price objective points to a potential upside of 163.51% from the company’s previous close.

A number of other brokerages also recently issued reports on MAU. Scotiabank set a C$6.25 price objective on shares of Montage Gold and gave the stock an “outperform” rating in a research report on Thursday, September 4th. SCP Equity Research lifted their price target on Montage Gold from C$6.50 to C$8.75 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Stifel Nicolaus boosted their price objective on Montage Gold from C$9.00 to C$9.25 and gave the stock a “buy” rating in a research report on Monday. Canaccord Genuity Group raised their target price on Montage Gold from C$8.00 to C$9.00 in a research report on Tuesday, November 18th. Finally, Beacon Securities boosted their price target on shares of Montage Gold from C$6.00 to C$7.80 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, Montage Gold has a consensus rating of “Buy” and a consensus price target of C$7.73.

Montage Gold Stock Up 1.6%

MAU traded up C$0.06 during mid-day trading on Monday, reaching C$3.70. 180,469 shares of the stock were exchanged, compared to its average volume of 306,976. Montage Gold has a 1 year low of C$1.24 and a 1 year high of C$3.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.36 and a current ratio of 26.33. The stock has a market capitalization of C$1.31 billion, a PE ratio of -26.33 and a beta of 1.55. The company has a 50 day moving average price of C$3.70 and a two-hundred day moving average price of C$3.70.

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.