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

In a report issued on May 16, Wayne Lam from RBC Capital maintained a Buy rating on Argonaut Gold (ARNGFResearch Report), with a price target of C$2.75. The company’s shares closed last Tuesday at $0.95, close to its 52-week low of $0.85.

According to TipRanks.com, Lam is a 1-star analyst with an average return of -6.6% and a 35.4% 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 Moderate Buy with an average price target of $1.91, implying a 97.0% upside from current levels. In a report issued on May 12, Scotiabank also maintained a Buy rating on the stock with a C$3.00 price target.

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Argonaut Gold’s market cap is currently $299.9M and has a P/E ratio of 10.67.

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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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