Brokers Issue Forecasts for Montage Gold FY2024 Earnings

Montage Gold Corp. (CVE:MAU) – Research analysts at Stifel Canada cut their FY2024 EPS estimates for Montage Gold in a note issued to investors on Tuesday, October 29th. Stifel Canada analyst S. Soock now anticipates that the company will earn ($0.08) per share for the year, down from their prior forecast of ($0.06). The consensus estimate for Montage Gold’s current full-year earnings is ($0.04) per share. Stifel Canada also issued estimates for Montage Gold’s FY2025 earnings at ($0.03) EPS, FY2026 earnings at ($0.02) EPS, FY2027 earnings at $0.29 EPS and FY2028 earnings at $0.60 EPS.

A number of other research analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price objective on Montage Gold from C$3.20 to C$4.85 in a research note on Wednesday. National Bankshares set a C$2.50 price target on Montage Gold and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. BMO Capital Markets increased their price objective on shares of Montage Gold from C$3.00 to C$3.75 in a research report on Friday, October 25th. National Bank Financial raised shares of Montage Gold to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Raymond James increased their price target on shares of Montage Gold from C$1.65 to C$2.75 in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Montage Gold currently has a consensus rating of “Buy” and an average price target of C$3.27.

Montage Gold Price Performance

MAU stock opened at C$2.48 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.36 and a current ratio of 5.75. The firm has a market capitalization of C$854.56 million, a price-to-earnings ratio of -16.53 and a beta of 1.55. The firm has a 50 day moving average price of C$1.98 and a 200-day moving average price of C$1.67. Montage Gold has a 52-week low of C$0.61 and a 52-week high of C$2.61.

Montage Gold (CVE:MAU) last issued its quarterly earnings results on Thursday, August 22nd. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.02).

About Montage Gold

Montage Gold Corp., a precious metals exploration and development company, engages in the exploration and development of mineral properties. Its flagship property is the Koné Gold Project covering an area of 2,259 square kilometers located in the Côte d'Ivoire, West Africa. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.