TMAC Resources (TSE:TMR) Price Target Increased to C$8.50 by Analysts at BMO Capital Markets

TMAC Resources (TSE:TMR) had its price target increased by equities researchers at BMO Capital Markets from C$8.00 to C$8.50 in a research report issued on Wednesday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 80.08% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. National Bank Financial raised their target price on TMAC Resources from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. CIBC dropped their target price on TMAC Resources from C$7.00 to C$6.25 in a research report on Friday, August 2nd. Echelon Wealth Partners reiterated a “speculative buy” rating on shares of TMAC Resources in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada cut shares of TMAC Resources from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$8.00 to C$7.00 in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. TMAC Resources currently has a consensus rating of “Hold” and a consensus price target of C$7.82.

Shares of TMR stock traded up C$0.11 on Wednesday, hitting C$4.72. The stock had a trading volume of 56,819 shares, compared to its average volume of 105,651. The company has a debt-to-equity ratio of 16.22, a current ratio of 2.22 and a quick ratio of 0.33. The firm has a market capitalization of $576.48 million and a P/E ratio of -55.88. TMAC Resources has a 1 year low of C$3.57 and a 1 year high of C$7.06. The company’s 50 day moving average price is C$5.58 and its 200-day moving average price is C$5.31.



In other TMAC Resources news, Senior Officer Ronald Peter Gagel sold 143,333 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of C$5.51, for a total value of C$789,764.83. Following the sale, the insider now owns 325,654 shares of the company’s stock, valued at approximately C$1,794,353.54. Also, Director Terry Macgibbon sold 233,333 shares of TMAC Resources stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of C$5.51, for a total value of C$1,285,664.83. Following the completion of the transaction, the director now owns 3,218,234 shares of the company’s stock, valued at approximately C$17,732,469.34.

TMAC Resources Company Profile

TMAC Resources Inc engages in exploring, evaluating, developing, and mining mineral properties in Canada. The company primarily explores for gold deposits. Its principal asset is the Hope Bay Project covering an area of 1,101 square kilometers located in the Kitikmeot region of western Nunavut Territory.

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Analyst Recommendations for TMAC Resources (TSE:TMR)

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