Argonaut Gold (TSE:AR) trades down 11.5%


Argonaut Gold Inc. (TSE:AR – Get Rating) traded down 11.5% in Tuesday’s trading. The stock traded as low as C$0.46 and last traded at C$0.46. 839,511 shares were traded at midday, down 50% from the average session volume of 1,684,010 shares. The stock had previously closed at C$0.52.

Several research analysts recently commented on the title. Canaccord Genuity Group has upgraded Argonaut Gold shares to a “hold” rating and set a price target of C$1.32 for the company in a Monday, May 23 research note. Royal Bank of Canada cut its target price on Argonaut Gold shares from C$2.75 to C$1.25 and set an “outperform” rating on the stock in a report released Wednesday. One research analyst gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$3.01.

The company has a quick ratio of 1.14, a current ratio of 1.84 and a debt ratio of 22.79. The company’s 50-day simple moving average is C$1.18 and its 200-day simple moving average is C$1.94. The company has a market cap of C$141.42 million and a price-earnings ratio of 42.50.

Argonaut Gold (TSE:AR – Get Rating) last announced its quarterly results on Wednesday, May 11. The mining company reported earnings per share of C$0.03 for the quarter, missing analyst consensus estimates of C$0.04 by C$0.01. The company had revenue of C$134.02 million for the quarter. Sell-side analysts expect Argonaut Gold Inc. to post EPS of 0.2924445 for the current fiscal year.

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

About Argonaut Gold (TSE: AR)

Argonaut Gold Inc. is a Canada-based company engaged in gold mining, mine development and mineral exploration activities on gold mining properties in North America. Its principal 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, USA; and the Cerro del Gallo project in Guanajuato, Mexico.

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