Shares of Alacer Gold (ASR) were revisited by a Wall Street analyst yesterday. CIBC’s analyst Cosmos Chiu reiterates their Buy rating on the shares, with a C$4 price target.
According to TipRanks.com, Chiu is a 4-star analyst with an average return of 5.9% and a 47.5% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Osisko Gold Royalties Ltd, and Detour Gold Corporation.
Alacer Gold has an analyst consensus of Moderate Buy, with a price target consensus of C$3.80, which is a 44.5% upside from current levels. In a report issued on January 11, Raymond James also maintained a Buy rating on the stock with a C$3.15 price target.
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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$26.64 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 Monday at C$2.63.
