Raymond James Believes Atlantic Gold (AGB) Won’t Stop Here


In a latest note to investors, a research analyst has provided a rating update for the Atlantic Gold (AGB). Analyst Tara Hassan from Raymond James remains bullish on the stock and has a C$2.75 price target.

According to TipRanks.com, Hassan is a 4-star analyst with an average return of 11.7% and a 70.4% success rate. Hassan covers the Basic Materials sector, focusing on stocks such as MAG Silver Corp, Alamos Gold Inc, and SEMAFO Inc.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atlantic Gold with a C$2.91 average price target, representing a 29.9% upside. In a report issued on March 6, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$2.85 price target.

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Based on Atlantic Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$8.24 million. In comparison, last year the company had a GAAP net loss of C$1.15 million.

Atlantic Gold Corp. engages in the acquisition, exploration, and development of mineral properties. It holds interest in the Moose River Consolidated Project, Cochrane Hill Project, and Fifteen Mile Stream Project. The company was founded on July 24, 1986 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$2.24, close to its 52-week high of C$2.34.