Continental Gold (TSE:CNL) PT Lowered to C$5.50
Continental Gold (TSE:CNL) had its price objective cut by investment analysts at BMO Capital Markets from C$8.50 to C$5.50 in a research report issued on Tuesday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 3.29% from the company’s current price.
Separately, TD Securities cut Continental Gold from a “speculative buy” rating to a “tender” rating and reduced their price objective for the stock from C$7.00 to C$5.50 in a research report on Tuesday.
Shares of TSE CNL traded down C$0.06 during midday trading on Tuesday, reaching C$5.33. 9,100,990 shares of the stock were exchanged, compared to its average volume of 545,424. Continental Gold has a 12 month low of C$1.76 and a 12 month high of C$5.40. The company has a market capitalization of $1.09 billion and a price-to-earnings ratio of -21.05. The company has a debt-to-equity ratio of 248.61, a current ratio of 1.47 and a quick ratio of 1.18. The business has a 50-day simple moving average of C$4.19 and a two-hundred day simple moving average of C$3.83.
Continental Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, evaluation, and development of gold resource properties in Colombia. The company holds the rights to develop and explore 1 advanced-stage gold project, as well as explore 3 early-stage projects in Colombia covering an area of approximately 76,565 hectares.
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