The Materials sector company, Guyana Goldfields (GUY), has received a rating update from a Wall Street analyst today. Analyst Mark Mihaljevic from RBC Capital remains neutral on the stock and has a C$1.75 price target.
According to TipRanks.com, Mihaljevic is ranked 0 out of 5 stars with an average return of -13.4% and a 24.5% success rate. Mihaljevic covers the Basic Materials sector, focusing on stocks such as SilverCrest Metals Inc, Guyana Goldfields Inc, and Hecla Mining Company.
Currently, the analyst consensus on Guyana Goldfields is a Hold with an average price target of C$1.63, which is a 66.3% upside from current levels. In a report released yesterday, Scotiabank also downgraded the stock to Hold with a C$1.50 price target.
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Based on Guyana Goldfields’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$2.68 million. In comparison, last year the company had a net profit of C$10.61 million.
Guyana Goldfields, Inc. engages in the acquisition, exploration, development, and operation of precious metal mineral properties. It focuses on the gold deposits of Aurora Gold Mines in Guyana South America. The company was founded by John Patrick Sheridan Jr. in 1996 and is headquartered in Toronto, Canada.
The company’s shares closed on Wednesday at C$0.98.
