Montage Gold (CVE:MAU) Shares Down 6.1% – Here’s What Happened

Montage Gold Corp. (CVE:MAU)’s stock price fell 6.1% during mid-day trading on Tuesday . The stock traded as low as C$2.30 and last traded at C$2.31. 108,332 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 212,569 shares. The stock had previously closed at C$2.46.

Analysts Set New Price Targets

Separately, Stifel Nicolaus cut their price target on Montage Gold from C$4.85 to C$4.60 in a report on Monday, December 23rd. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Montage Gold presently has a consensus rating of “Buy” and an average target price of C$3.22.

Montage Gold Stock Down 6.1 %

The company has a market cap of C$815.42 million, a P/E ratio of -16.44 and a beta of 1.55. The company has a 50 day moving average of C$2.22 and a 200-day moving average of C$2.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 26.33 and a quick ratio of 0.36.

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.