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RBC Capital Sticks to Its Buy Rating for Argonaut Gold (ARNGF)

RBC Capital analyst Wayne Lam maintained a Buy rating on Argonaut Gold (ARNGFResearch Report) on August 15 and set a price target of C$1.25. The company’s shares closed yesterday at $0.40.

Lam covers the Basic Materials sector, focusing on stocks such as Equinox Gold, Torex Gold Resources, and Argonaut Gold. According to TipRanks, Lam has an average return of -11.7% and a 33.33% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Argonaut Gold with a $0.83 average price target, a 105.45% upside from current levels. In a report released on August 12, BMO Capital also maintained a Buy rating on the stock with a C$1.00 price target.

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Based on Argonaut Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $105.8 million and a net profit of $5.62 million. In comparison, last year the company earned a revenue of $105.27 million and had a net profit of $27.01 million

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is neutral on the stock.

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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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