In a new note to investors today, an analyst has provided a rating update for Alacer Gold (ASR). The company received a Buy rating from CIBC’s analyst Cosmos Chiu, with a C$6 price target.
According to TipRanks.com, Chiu is a 5-star analyst with an average return of 14.6% and a 55.8% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties Ltd, OceanaGold Corporation, and Kirkland Lake Gold Ltd.
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Alacer Gold has an analyst consensus of Strong Buy, with a price target consensus of C$5.70, which is a 6.9% upside from current levels. In a report issued on July 19, Raymond James also maintained a Buy rating on the stock with a C$6 price target.
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Alacer Gold’s market cap is currently C$1.52B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.53.
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$5.33.
