Argonaut Gold (TSE:AR) Stock Price Up 18.9%

Argonaut Gold Inc. (TSE:ARGet Rating)’s share price shot up 18.9% during mid-day trading on Thursday . The company traded as high as C$0.64 and last traded at C$0.63. 3,104,727 shares were traded during mid-day trading, an increase of 60% from the average session volume of 1,936,594 shares. The stock had previously closed at C$0.53.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AR. BMO Capital Markets initiated coverage on shares of Argonaut Gold in a research report on Thursday, July 7th. They set a “buy” rating and a C$1.50 price target for the company. Royal Bank of Canada reduced their price objective on Argonaut Gold from C$2.75 to C$1.25 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Finally, Canaccord Genuity Group raised Argonaut Gold to a “hold” rating and set a C$1.32 target price on the stock in a report on Monday, May 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$2.58.

Argonaut Gold Price Performance

The company has a debt-to-equity ratio of 22.79, a current ratio of 1.84 and a quick ratio of 1.14. The firm has a market capitalization of C$429.43 million and a PE ratio of 56.00. The company has a 50-day moving average price of C$0.67 and a 200-day moving average price of C$1.67.

Argonaut Gold (TSE:ARGet Rating) last released its earnings results on Wednesday, May 11th. The mining company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.01). The business had revenue of C$134.02 million for the quarter. Sell-side analysts forecast that Argonaut Gold Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling at Argonaut Gold

In other Argonaut Gold news, Director Daniel Arthur Symons sold 56,883 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of C$1.22, for a total transaction of C$69,397.26. Following the transaction, the director now owns 239,235 shares of the company’s stock, valued at C$291,866.70.

About Argonaut Gold

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Argonaut Gold Inc is a Canadian company engaged in gold mining, mine development, and mineral exploration activities at gold-bearing mineral properties in North America. Its primary assets include the El Castillo and San Agustin mines, which together form the El Castillo Complex located in Durango, Mexico; the La Colorada mine located in Sonora, Mexico; the Florida Canyon mine in Nevada, the United States; and the Cerro del Gallo project in Guanajuato, Mexico.

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