Argonaut Gold Inc. (TSE:AR) to Post Q3 2022 Earnings of $0.03 Per Share, Cormark Forecasts

Argonaut Gold Inc. (TSE:AR – Get Rating) – Cormark reduced their Q3 2022 earnings estimates for shares of Argonaut Gold in a research note issued on Wednesday, July 6th. Cormark analyst R. Gray now anticipates that the mining company will earn $0.03 per share for the quarter, down from their prior forecast of $0.05. The consensus estimate for Argonaut Gold’s current full-year earnings is $0.29 per share. Cormark also issued estimates for Argonaut Gold’s Q4 2022 earnings at $0.03 EPS, FY2022 earnings at $0.12 EPS, FY2023 earnings at $0.12 EPS and FY2024 earnings at $0.22 EPS.

Argonaut Gold (TSE:AR – Get Rating) last posted its quarterly earnings data on Wednesday, May 11th. The mining company reported C$0.03 EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.01). The firm had revenue of C$134.02 million for the quarter.

AR has been the subject of a number of other research reports. Canaccord Genuity Group upgraded Argonaut Gold to a “hold” rating and set a C$1.32 target price for the company in a report on Monday, May 23rd. Royal Bank of Canada decreased their price target on Argonaut Gold from C$2.75 to C$1.25 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$3.01.

Shares of TSE:AR opened at C$0.47 on Friday. The company has a debt-to-equity ratio of 22.79, a quick ratio of 1.14 and a current ratio of 1.84. Argonaut Gold has a 1 year low of C$0.41 and a 1 year high of C$4.09. The stock has a market capitalization of C$360.42 million and a P/E ratio of 47.00. The stock has a 50-day simple moving average of C$1.12 and a 200-day simple moving average of C$1.92.

In related news, Director Daniel Arthur Symons sold 56,883 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of C$1.22, for a total transaction of C$69,397.26. Following the sale, the director now directly owns 239,235 shares of the company’s stock, valued at approximately C$291,866.70.

Argonaut Gold Company Profile (Get Rating)

Argonaut Gold Inc is a Canadian company engaged in gold mining, mine development, and mineral exploration activities at gold-bearing mineral properties in North America. Its primary assets include the El Castillo and San Agustin mines, which together form the El Castillo Complex located in Durango, Mexico; the La Colorada mine located in Sonora, Mexico; the Florida Canyon mine in Nevada, the United States; and the Cerro del Gallo project in Guanajuato, Mexico.

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