Amaroq Minerals (LON:AMRQ) Trading Up 5% – Here’s What Happened

Shares of Amaroq Minerals Ltd. (LON:AMRQ) were up 5% during mid-day trading on Thursday . The company traded as high as GBX 94 ($1.25) and last traded at GBX 93 ($1.24). Approximately 2,544,192 shares were traded during trading, an increase of 451% from the average daily volume of 461,360 shares. The stock had previously closed at GBX 88.60 ($1.18).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on shares of Amaroq Minerals from GBX 110 to GBX 120 and gave the stock a “speculative buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Amaroq Minerals has an average rating of “Buy” and a consensus target price of GBX 122.50.

Amaroq Minerals Price Performance

The company has a market cap of £431.40 million, a P/E ratio of -1,144.58 and a beta of 0.20. The company has a debt-to-equity ratio of 32.09, a quick ratio of 9.04 and a current ratio of 0.67. The firm’s fifty day moving average is GBX 71.79 and its two-hundred day moving average is GBX 78.90.

About Amaroq Minerals

Amaroq’s principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals.