Raymond James Brokers Cut Earnings Estimates for Anaconda Mining Inc. (TSE:ANX)

Anaconda Mining Inc. (TSE:ANX – Get Rating) – Raymond James lowered their Q4 2022 earnings estimates for shares of Anaconda Mining in a research note issued on Tuesday, April 19th. Raymond James analyst C. Stanley now anticipates that the company will post earnings of $0.00 per share for the quarter, down from their prior forecast of $0.01. Raymond James currently has a “Strong-Buy” rating and a $1.30 target price on the stock.

Anaconda Mining (TSE:ANX – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported C($0.01) EPS for the quarter. The company had revenue of C$7.64 million for the quarter.

Shares of Anaconda Mining stock opened at C$0.63 on Friday. The company has a market capitalization of C$113.59 million and a price-to-earnings ratio of -15.37. The company has a quick ratio of 0.69, a current ratio of 1.09 and a debt-to-equity ratio of 2.26. Anaconda Mining has a 12-month low of C$0.50 and a 12-month high of C$1.05. The firm’s 50-day moving average price is C$0.73 and its two-hundred day moving average price is C$0.69.

In other Anaconda Mining news, Director Jonathan W. Fitzgerald sold 60,000 shares of the stock in a transaction dated Monday, February 7th. The shares were sold at an average price of C$0.80, for a total transaction of C$48,000.00. Following the sale, the director now directly owns 510,000 shares in the company, valued at C$408,000. Insiders have sold 126,000 shares of company stock worth $72,450 over the last quarter.

About Anaconda Mining (Get Rating)

Anaconda Mining Inc operates as a gold mining, development, and exploration company in Canada. It holds a 100% interest in the Point Rousse project comprising 6 mining leases and 7 mineral licenses with a total of 5,552 hectares located in the Baie Verte Mining District, Newfoundland; and the Goldboro Gold project comprising 37 contiguous claims covering an area of 592 hectares situated to the northeast of Halifax, Nova Scotia.

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