Alacer Gold (ASR) Receives a Buy from CIBC


A Wall Street analyst has provided a review for the Materials company on April 5, but retained the same rating on the stock. Analyst Cosmos Chiu from CIBC reiterated a Buy rating, with a C$4.50 price target on April 5.

According to TipRanks.com, Chiu is a 5-star analyst with an average return of 11.4% and a 52.2% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Osisko Gold Royalties Ltd, and OceanaGold Corporation.

Currently, the analyst consensus on Alacer Gold is a Strong Buy with an average price target of C$4.10, implying a 15.8% upside from current levels. In a report issued on April 4, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$4.10 price target.

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The company has a one-year high of C$4.13 and a one-year low of C$1.97. Currently, Alacer Gold has an average volume of 1.13M.

Alacer Gold Corp. is a gold mining company, which engages in the exploration and development of mineral properties in Turkey. Its explorations include Copler District and Turkey Regional. The company was founded on September 20, 1993 and is headquartered in Denver, CO.

The company’s shares closed on Friday at C$3.54.

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