A Wall Street analyst has provided a rating update for the Materials sector company today, while remaining neutral on the stock. Analyst Don DeMarco from National Bank rated Alacer Gold (ASR) a Hold, setting a C$4 price target.
According to TipRanks.com, DeMarco is a 1-star analyst with an average return of -5.7% and a 13.6% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, SilverCrest Metals Inc, and First Majestic Silver.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alacer Gold with a C$3.22 average price target.
Based on Alacer Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$35.48 million. In comparison, last year the company had a net profit of C$36.49 million.
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 Wednesday at C$2.17.
