CIBC Lowers TMAC Resources (OTCMKTS:TMMFF) to Hold

TMAC Resources (OTCMKTS:TMMFF) was downgraded by investment analysts at CIBC to a “hold” rating in a report issued on Wednesday, TipRanks reports. They presently have a $6.50 price target on the stock. CIBC’s price objective would indicate a potential upside of 75.01% from the company’s current price.

Separately, Royal Bank of Canada downgraded TMAC Resources from an “outperform” rating to a “sector perform” rating and set a $7.00 price objective for the company. in a research report on Thursday, September 5th.

Shares of OTCMKTS:TMMFF traded up $0.03 during trading on Wednesday, reaching $3.71. 886 shares of the company traded hands, compared to its average volume of 14,984. The company’s 50 day moving average is $4.02 and its two-hundred day moving average is $3.96. TMAC Resources has a 52 week low of $2.71 and a 52 week high of $5.29.

TMAC Resources Company Profile

TMAC Resources Inc engages in exploring, evaluating, developing, and mining mineral properties in Canada. The company primarily explores for gold deposits. Its principal asset is the Hope Bay Project covering an area of 1,101 square kilometers located in the Kitikmeot region of western Nunavut Territory.

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