Detour Gold (DGC) Shares Up -3.1% After Analyst Upgrade
Shares of Detour Gold Co. (TSE:DGC) shot up 3.1% during mid-day trading on Friday after Canaccord Genuity raised their price target on the stock from C$22.50 to C$23.50. The stock traded as high as C$14.25 and last traded at C$13.66. 1,038,654 shares traded hands during trading, an increase of 13% from the average session volume of 922,370 shares. The stock had previously closed at C$14.10.
Several other research firms have also recently weighed in on DGC. BMO Capital Markets set a C$26.00 price target on Detour Gold and gave the company an “outperform” rating in a report on Thursday. Scotiabank cut their price target on Detour Gold from C$21.00 to C$18.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. CSFB upgraded Detour Gold from a “neutral” rating to an “outperform” rating and set a C$16.00 price target for the company in a report on Thursday, October 26th. National Bank Financial cut their price target on Detour Gold from C$22.50 to C$21.50 and set an “outperform” rating for the company in a report on Friday, October 27th. Finally, Eight Capital restated a “buy” rating on shares of Detour Gold in a report on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$20.70.
The firm has a market cap of $2,450.00, a P/E ratio of 34.12 and a beta of -1.65.
Detour Gold (TSE:DGC) last posted its quarterly earnings data on Wednesday, October 25th. The mining company reported C$0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.15 by C$0.11. Detour Gold had a return on equity of 8.60% and a net margin of 25.07%.
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About Detour Gold
Detour Gold Corporation is a Canada-based intermediate gold producing company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. Its primary asset is its Detour Lake mine, which is an open pit operation located in northeastern Ontario, approximately 300 kilometers northeast of Timmins and over 180 kilometers by road northeast of Cochrane.
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