Zacks Investment Research Downgrades Auryn Resources (NYSEAMERICAN:AUG) to Hold

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Zacks Investment Research lowered shares of Auryn Resources (NYSEAMERICAN:AUG) from a buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Auryn Resources Inc. is a mining exploration, acquisition and development company. Its project primarily includes the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through Corisur Peru SAC. Auryn Resources Inc. is based in Vancouver, Canada. “

Shares of NYSEAMERICAN:AUG opened at $1.31 on Tuesday. Auryn Resources has a 12 month low of $0.85 and a 12 month high of $1.84.

Auryn Resources (NYSEAMERICAN:AUG) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01).

Several institutional investors have recently modified their holdings of the company. Raffles Associates LP acquired a new position in shares of Auryn Resources during the second quarter worth about $428,000. Deutsche Bank AG boosted its holdings in Auryn Resources by 31,403.8% during the fourth quarter. Deutsche Bank AG now owns 41,900 shares of the company’s stock worth $38,000 after buying an additional 41,767 shares in the last quarter. Bank of Montreal Can boosted its holdings in Auryn Resources by 214.7% during the second quarter. Bank of Montreal Can now owns 15,500 shares of the company’s stock worth $27,000 after buying an additional 10,574 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. purchased a new stake in Auryn Resources during the second quarter worth about $26,000.

About Auryn Resources

Auryn Resources Inc, a junior mining exploration company, engages in the acquisition, exploration, and development of mineral resource properties. Its principal mineral properties are the Committee Bay gold project located in Nunavut, Canada and the Homestake Ridge project located within the Iskut-Stewart-Kitsault belt, in northwestern British Columbia.

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