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BMO Capital Thinks Argonaut Gold’s Stock is Going to Recover

BMO Capital analyst Brian Quast maintained a Buy rating on Argonaut Gold (ARNGFResearch Report) today and set a price target of C$2.50. The company’s shares closed last Friday at $0.88, close to its 52-week low of $0.85.

According to TipRanks.com, Quast is a 3-star analyst with an average return of 3.0% and a 44.1% success rate. Quast covers the Basic Materials sector, focusing on stocks such as Newcrest Mining Limited, Eldorado Gold, and Lundin Gold.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Argonaut Gold with a $2.11 average price target, representing a 125.9% upside. In a report released yesterday, Scotiabank also maintained a Buy rating on the stock with a C$3.00 price target.

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The company has a one-year high of $3.23 and a one-year low of $0.85. Currently, Argonaut Gold has an average volume of 129.9K.

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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.

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