Auryn Resources (NYSEAMERICAN:AUG) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Auryn Resources (NYSEAMERICAN:AUG) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Auryn Resources Inc. is a mining exploration, acquisition and development company. Its project primarily includes the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia and a portfolio of gold projects in southern Peru, through Corisur Peru SAC. Auryn Resources Inc. is based in Vancouver, Canada. “

NYSEAMERICAN AUG opened at $1.27 on Tuesday. Auryn Resources has a twelve month low of $0.85 and a twelve month high of $1.84.

Auryn Resources (NYSEAMERICAN:AUG) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01).

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. bought a new stake in Auryn Resources in the second quarter worth $26,000. Bank of Montreal Can boosted its holdings in Auryn Resources by 214.7% in the second quarter. Bank of Montreal Can now owns 15,500 shares of the company’s stock worth $27,000 after acquiring an additional 10,574 shares in the last quarter. Deutsche Bank AG boosted its holdings in Auryn Resources by 31,403.8% in the fourth quarter. Deutsche Bank AG now owns 41,900 shares of the company’s stock worth $38,000 after acquiring an additional 41,767 shares in the last quarter. Finally, Raffles Associates LP bought a new stake in Auryn Resources in the second quarter worth $428,000.

Auryn Resources Company Profile

Auryn Resources Inc, a junior mining exploration company, engages in the acquisition, exploration, and development of mineral resource properties. Its principal mineral properties are the Committee Bay gold project located in Nunavut, Canada and the Homestake Ridge project located within the Iskut-Stewart-Kitsault belt, in northwestern British Columbia.

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