In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Maple Gold Mines Ltd (MGM – Research Report). Noble Financial’s analyst Mark Reichman reiterates their Buy rating on the shares, with a $0.30 price target.
According to TipRanks.com, Reichman has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -13.4% and a 27.5% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Haynes International, Endeavour Silver, and Comstock Mining.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Maple Gold Mines Ltd with a C$0.40 average price target.
Based on Maple Gold Mines Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$2.97 million. In comparison, last year the company had a GAAP net loss of C$2.61 million.
Maple Gold Mines Ltd is a gold exploration company. It is primarily involved in the exploration of mineral resources. The company is focused on advancing the Douay Gold Property, located in Quebec, Canada. The Project is approximately 2.5 hours north of Val d’Or and 1.25 hours north of Amos via Highway 109. The pre-existing facilities are accessible via a gravel road less than 10 minutes from the main highway, while a new 75-person camp has been built just west of the highway. The Douay Gold Project covers an area of more than 390 sqkm along the Casa Berardi Deformation Zone (CBDZ) within the prolific Abitibi Greenstone Belt (AGB). The company’s operations comprise a single reporting operating segment engaged in mineral exploration in Canada.
The company’s shares closed last Tuesday at C$0.14, close to its 52-week low of C$0.13.
