Zacks Investment Research Downgrades Auryn Resources (NYSEAMERICAN:AUG) to Hold

Zacks Investment Research cut shares of Auryn Resources (NYSEAMERICAN:AUG) from a buy rating to a hold rating in a research report report published on Tuesday morning, 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. “

Shares of AUG stock opened at $1.31 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 announced its earnings results on Tuesday, August 13th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01).

Several hedge funds have recently made changes to their positions in AUG. Deutsche Bank AG boosted its stake in Auryn Resources by 31,403.8% during the 4th quarter. Deutsche Bank AG now owns 41,900 shares of the company’s stock valued at $38,000 after acquiring an additional 41,767 shares during the last quarter. Bank of Montreal Can boosted its stake in Auryn Resources by 214.7% during the 2nd quarter. Bank of Montreal Can now owns 15,500 shares of the company’s stock valued at $27,000 after acquiring an additional 10,574 shares during the last quarter. Raffles Associates LP bought a new position in Auryn Resources during the 2nd quarter valued at $428,000. Finally, Ladenburg Thalmann Financial Services Inc. bought a new position in Auryn Resources during the 2nd quarter valued at $26,000.

About Auryn Resources

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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