RBC Capital Maintains a Buy Rating on Argonaut Gold (ARNGF)

In a report issued on April 11, Wayne Lam from RBC Capital maintained a Buy rating on Argonaut Gold (ARNGFResearch Report), with a price target of C$3.25. The company’s shares closed last Tuesday at $2.01.

According to TipRanks.com, Lam is a 4-star analyst with an average return of 8.8% and a 66.7% success rate. Lam covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, Osisko Development, and Marathon Gold.

Currently, the analyst consensus on Argonaut Gold is a Strong Buy with an average price target of $2.57.

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Based on Argonaut Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $103 million and GAAP net loss of $37.25 million. In comparison, last year the company earned revenue of $101 million and had a net profit of $18.01 million.

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.

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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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