TMAC Resources Inc (TSE:TMR) rose 5.8% during trading on Wednesday . The stock traded as high as C$9.10 and last traded at C$9.10. Approximately 10,375 shares changed hands during trading, a decline of 71% from the average daily volume of 36,257 shares. The stock had previously closed at C$8.60.
TMR has been the topic of several recent research reports. Desjardins downgraded shares of TMAC Resources from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. TD Securities dropped their price objective on shares of TMAC Resources from C$15.00 to C$14.00 and set a “speculative buy” rating on the stock in a report on Monday, November 13th. Royal Bank of Canada dropped their price objective on shares of TMAC Resources from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Monday, November 13th. Finally, CIBC dropped their price objective on shares of TMAC Resources from C$12.00 to C$10.50 in a report on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of C$12.46.
The stock has a market cap of $782.63 and a PE ratio of -35.83.
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TMAC Resources Company Profile
TMAC Resources Inc acquires, explores for, evaluates, and develops 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. The company was incorporated in 2012 and is headquartered in Toronto, Canada.
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