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Argonaut Gold (ARNGF) Received its Third Buy in a Row

After Stifel Nicolaus and BMO Capital gave Argonaut Gold (Other OTC: ARNGF) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Wayne Lam maintained a Buy rating on Argonaut Gold yesterday and set a price target of C$3.25. The company’s shares closed last Monday at $1.81.

According to TipRanks.com, Lam is a 4-star analyst with an average return of 9.2% and a 67.6% success rate. Lam covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, Osisko Development, and Marathon Gold.

Argonaut Gold has an analyst consensus of Strong Buy, with a price target consensus of $2.54, which is a 33.7% upside from current levels. In a report issued on March 4, Desjardins also maintained a Buy rating on the stock with a C$3.25 price target.

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Argonaut Gold’s market cap is currently $570M and has a P/E ratio of 20.47.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARNGF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Argonaut Gold, Inc. engages in the exploration, mine development, and production activities on gold-bearing properties. The company portfolio of gold operations include the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, and the La Colorada mine in Sonora, Mexico. The company was founded on April 3, 2007 and is headquartered in Reno, NV.

Read More on ARNGF:

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