Mandalay Resources (TSE:MND) Shares Cross Above 200 Day Moving Average of $1.77

Shares of Mandalay Resources Corp. (TSE:MND) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$1.77 and traded as high as C$2.39. Mandalay Resources shares last traded at C$2.30, with a volume of 30,858 shares trading hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets reduced their price objective on Mandalay Resources from C$3.00 to C$2.50 in a research report on Friday, February 23rd.

Mandalay Resources Price Performance

The company has a market cap of C$213.72 million, a P/E ratio of 20.91 and a beta of 0.60. The company has a fifty day simple moving average of C$1.73 and a 200-day simple moving average of C$1.77. The company has a debt-to-equity ratio of 11.98, a current ratio of 2.50 and a quick ratio of 0.89.

Mandalay Resources (TSE:MND) last announced its earnings results on Thursday, February 22nd. The company reported C$0.14 earnings per share (EPS) for the quarter. Mandalay Resources had a net margin of 4.54% and a return on equity of 4.13%. The company had revenue of C$68.88 million for the quarter. On average, sell-side analysts predict that Mandalay Resources Corp. will post 0.1480392 earnings per share for the current year.

About Mandalay Resources

Mandalay Resources Corporation, a natural resource company, engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties. It explores for gold, silver, and antimony deposits. The company holds a 100% interest in the Costerfield gold-antimony mine covering an area of 7,540.78 hectares (ha) located in Central Victoria, Australia; and the Bjorkdal gold mine that comprises 9 mining concessions and 19 exploration permits located in Vasterbotten County in northern Sweden.