Amex Exploration (CVE:AMX) Shares Up 0.8% – Here’s Why

Shares of Amex Exploration Inc. (CVE:AMX) shot up 0.8% during mid-day trading on Tuesday . The company traded as high as C$1.23 and last traded at C$1.20. 334,499 shares changed hands during trading, an increase of 225% from the average session volume of 103,020 shares. The stock had previously closed at C$1.19.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMX. Canaccord Genuity Group increased their price target on Amex Exploration from C$4.25 to C$4.50 in a research report on Tuesday, July 23rd. Ventum Cap Mkts downgraded Amex Exploration from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Ventum Financial downgraded Amex Exploration from a “buy” rating to a “neutral” rating and lowered their price target for the stock from C$3.05 to C$1.20 in a research report on Monday, September 9th.

Amex Exploration Stock Up 12.8 %

The stock has a market capitalization of C$151.77 million, a PE ratio of 132.00 and a beta of 1.95. The stock has a fifty day moving average of C$1.18 and a 200-day moving average of C$1.51.

Amex Exploration (CVE:AMX) last posted its earnings results on Wednesday, August 21st. The company reported C$0.01 earnings per share for the quarter. Equities research analysts expect that Amex Exploration Inc. will post -0.02 EPS for the current year.

About Amex Exploration

Amex Exploration Inc, together with its subsidiaries, engages in the exploration of gold mining properties in Canada. The company holds interest in the Perron project and the Lebel-sur-Quévillon project located in Quebec. It also holds interest in the Eastmain River South, North, and Central projects located in Chibougamau, Quebec.