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Canaccord Genuity lowers target price on Amaroq Minerals

Analysts at Canaccord Genuity lowered their target price on Amaroq Minerals after the mining and exploration company cut its guidance for 2025 to 5,000 ounces.

  • Amaroq Minerals Ltd
  • 14 August 2025 11:02:08
Amaroq Minerals

Source: Sharecast

Canaccord Genuity, which maintained its 'speculative buy' rating on the stock, noted that Amaroq had reported "a modestly weak" set of first-half profit and loss figures relative to CGe, albeit with a mid-year balance sheet that was relatively in line with forecasts.

However, Canaccord said Amaroq's decision to bring forward its Phase 2 growth investment at the Nalunaq processing plant to the third or fourth quarter of this year has "its own pros and cons".

"On the negative side, AMRQ has reduced its near-term 2025 production guidance to 5k oz," said the Canadian bank. "On the positive side, the expansion should now be complete ahead of winter and leave AMRQ to commission the full plant by year-end, with a full year of production expected in 2026."

As a result, Canaccord Genuity cut its 2025 production estimates by 55% to 5,000 ounces, while 2026 was revised down by 14% to 36,000 oz, with a follow-on negative impact to financial forecasts for both years.

Reporting by Iain Gilbert at Sharecast.com

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