Could TMAC Resources Inc See a Reversal After Breaking All Highs?

 Could TMAC Resources Inc See a Reversal After Breaking All Highs?

The stock of TMAC Resources Inc (TSE:TMR) reached all time high today, Nov, 2 and still has $26.89 target or 40.00% above today’s $19.21 share price. This indicates more upside for the $1.63 billion company. This technical setup was reported by Barchart.com. If the $26.89 PT is reached, the company will be worth $652.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 20,865 shares traded hands. TMAC Resources Inc (TSE:TMR) has risen 112.78% since March 29, 2016 and is uptrending. It has outperformed by 110.25% the S&P500.

TMAC Resources Inc (TSE:TMR) Ratings Coverage

Out of 2 analysts covering TMAC Resources Inc (TSE:TMR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. TMAC Resources Inc has been the topic of 3 analyst reports since August 10, 2015 according to StockzIntelligence Inc. National Bank Canada maintained it with “Sector Perform” rating and $6.25 target price in Monday, August 10 report. The stock of TMAC Resources Inc (TSE:TMR) earned “Outperform” rating by National Bank Canada on Wednesday, July 20. The stock of TMAC Resources Inc (TSE:TMR) earned “Speculative Outperform” rating by BMO Capital Markets on Thursday, August 20.

More notable recent TMAC Resources Inc (TSE:TMR) news were published by: Businesswire.com which released: “TMAC Resources Receives Amended Doris North Project Certificate” on September 26, 2016, also Wsj.com with their article: “Canada’s TMAC Resources Plans IPO” published on May 29, 2015, Marketwired.com published: “TMAC Resources Inc. Announces $80 Million Bought Deal Financing” on June 27, 2016. More interesting news about TMAC Resources Inc (TSE:TMR) were released by: Wsj.com and their article: “Canada’s TMAC Resources Boosts Target IPO Size to $109 Million” published on June 25, 2015 as well as Theglobeandmail.com‘s news article titled: “The Globe and Mail” with publication date: September 23, 2015.

TMAC Resources, Inc. is a Canada-based mineral exploration and development company. The company has a market cap of $1.63 billion. The Firm is involved in the exploration, evaluation and development of the Hope Bay mineral property in the Kitikmeot Region of Nunavut, Canada . It currently has negative earnings. Approximately 1,100 square kilometer Hope Bay Project gold deposit has approximately 4.5 million ounces of gold at an average grade of approximately 9.2 grams per ton gold (g/t Au), Inferred Mineral Resources totaling approximately 1.4 million ounces of gold at an average grade of 7.4 g/t Au and proven and probable mineral reserves totaling approximately 3.5 million ounces of gold at an average grade of 7.7 g/t Au.

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