RBC Capital Thinks TMAC Resources’ Stock is Going to Recover

By Carrie Williams

In a new note to investors on July 9, an analyst has provided a rating update for the Materials sector company, TMAC Resources (TSX: TMR). The company received a Buy on July 9 from RBC Capital’s analyst Mark Mihaljevic, with a C$10 price target.

According to TipRanks.com, Mihaljevic is ranked #4589 out of 4842 analysts.

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TMAC Resources has an analyst consensus of Hold, with a price target consensus of C$8.

Based on TMAC Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$33 million and GAAP net loss of C$15 million. In comparison, last year the company had a net profit of C$500K.

TMAC Resources, Inc. engages in the acquisition, exploration, and development of metal resource properties. It focuses on mining the Doris, Madrid, and Boston gold deposit trends located in Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada.

The company’s shares closed on Friday at C$6.62, close to its 52-week low of C$5.19.