TMAC Resources (TSE:TMR) had its price objective reduced by National Bank Financial from C$8.50 to C$7.00 in a report released on Monday morning, BayStreet.CA reports.
TMR has been the subject of a number of other reports. BMO Capital Markets lifted their price target on shares of TMAC Resources from C$8.00 to C$8.50 in a research note on Wednesday, September 11th. CIBC dropped their price target on shares of TMAC Resources from C$7.00 to C$6.25 in a research note on Friday, August 2nd. Royal Bank of Canada cut shares of TMAC Resources from an outperform rating to a sector perform rating and dropped their price target for the stock from C$8.00 to C$7.00 in a research note on Thursday, September 5th. Echelon Wealth Partners reaffirmed a speculative buy rating on shares of TMAC Resources in a research note on Wednesday, August 21st. Finally, TD Securities dropped their price target on shares of TMAC Resources from C$9.50 to C$7.00 and set a speculative buy rating for the company in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of C$7.21.
Shares of TSE:TMR opened at C$3.40 on Monday. TMAC Resources has a 52 week low of C$3.10 and a 52 week high of C$7.06. The stock has a market capitalization of $381.17 million and a P/E ratio of 136.00. The firm has a fifty day simple moving average of C$3.90 and a two-hundred day simple moving average of C$5.15. The company has a quick ratio of 0.90, a current ratio of 2.85 and a debt-to-equity ratio of 16.30.
In related news, 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 transaction of C$1,285,664.83. Following the completion of the transaction, the director now directly owns 3,218,234 shares of the company’s stock, valued at approximately C$17,732,469.34. Also, Senior Officer Ronald Peter Gagel sold 143,333 shares of TMAC Resources stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of C$5.51, for a total transaction of C$789,764.83. Following the transaction, the insider now directly owns 325,654 shares of the company’s stock, valued at C$1,794,353.54.
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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