Shares of TMAC Resources Inc (TSE:TMR) fell 2.2% during mid-day trading on Wednesday . The company traded as low as C$8.64 and last traded at C$8.84. 17,028 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 34,886 shares. The stock had previously closed at C$9.04.
A number of brokerages recently issued reports on TMR. Royal Bank of Canada boosted their price target on TMAC Resources from C$10.00 to C$12.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Desjardins lowered TMAC Resources from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. TD Securities lowered their target price on TMAC Resources from C$15.00 to C$14.00 and set a “speculative buy” rating for the company in a report on Monday, November 13th. Finally, CIBC lowered their target price on TMAC Resources from C$12.00 to C$10.50 in a report on Monday, November 13th. Six analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of C$12.46.
The company has a market capitalization of $835.78 and a price-to-earnings ratio of -36.83.
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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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