TMAC Resources Inc (TMR) Cut to “Market Perform” at BMO Capital Markets

BMO Capital Markets lowered shares of TMAC Resources Inc (TSE:TMR) from an outperform rating to a market perform rating in a research note published on Thursday.

A number of other equities analysts have also recently weighed in on the company. National Bank Financial raised TMAC Resources from a sector perform market weight rating to an outperform spec overweight rating in a report on Tuesday, July 19th. Scotiabank boosted their price target on TMAC Resources from C$13.50 to C$16.50 and gave the stock an outperform rating in a report on Monday, June 13th. GMP Securities reissued a buy rating on shares of TMAC Resources in a report on Tuesday, August 9th. Finally, TD Securities boosted their price target on TMAC Resources from C$16.50 to C$20.00 and gave the stock a speculative buy rating in a report on Thursday, July 21st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of C$18.47.

TMAC Resources (TSE:TMR) opened at 17.53 on Thursday. TMAC Resources has a 1-year low of $5.43 and a 1-year high of $19.97. The firm’s 50-day moving average price is $17.49 and its 200-day moving average price is $14.24. The firm’s market cap is $1.45 billion.

TMAC Resources Company Profile

TMAC Resources, Inc is a Canada-based mineral exploration and development company. The Company is involved in the exploration, evaluation and development of the Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada (Hope Bay Project). Approximately 1,100 square kilometer Hope Bay Project gold deposit has approximately 4.5 million ounces of gold at an average grade of approximately 9.2 grams per ton gold (g/t Au), Inferred Mineral Resources totaling approximately 1.4 million ounces of gold at an average grade of 7.4 g/t Au and proven and probable mineral reserves totaling approximately 3.5 million ounces of gold at an average grade of 7.7 g/t Au.

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