Montage Gold (CVE:MAU) Sets New 52-Week High – Here’s Why

Montage Gold Corp. (CVE:MAU) hit a new 52-week high on Monday . The company traded as high as C$3.00 and last traded at C$2.99, with a volume of 231743 shares traded. The stock had previously closed at C$2.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MAU shares. Stifel Nicolaus set a C$4.60 price objective on shares of Montage Gold and gave the company a “buy” rating in a research report on Wednesday, March 19th. Cormark increased their price target on Montage Gold from C$3.00 to C$4.50 and gave the stock a “buy” rating in a report on Tuesday. Stifel Canada upgraded Montage Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, National Bank Financial upgraded shares of Montage Gold to a “strong-buy” rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$3.62.

Montage Gold Trading Down 2.2 %

The business’s 50-day moving average is C$2.39 and its 200 day moving average is C$2.22. The firm has a market capitalization of C$1.09 billion, a P/E ratio of -21.99 and a beta of 1.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 26.33 and a quick ratio of 0.36.

Montage Gold Company Profile

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.