Alacer Gold (ASR) Upgraded by CIBC to Outperform
CIBC upgraded shares of Alacer Gold (TSE:ASR) from a neutral rating to an outperform rating in a report released on Friday morning. CIBC currently has C$3.50 target price on the mining company’s stock, up from their previous target price of C$2.75.
Several other analysts have also recently weighed in on ASR. BMO Capital Markets lowered their price objective on shares of Alacer Gold from C$3.00 to C$2.50 in a research report on Wednesday, November 1st. Scotiabank cut shares of Alacer Gold from an outperform rating to a sector perform rating and set a C$3.75 price objective on the stock. in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of C$3.23.
Shares of Alacer Gold (ASR) opened at C$2.17 on Friday. The firm has a market cap of $636.01, a price-to-earnings ratio of 6.20 and a beta of -1.06. Alacer Gold has a 52-week low of C$1.95 and a 52-week high of C$3.11.
Alacer Gold Corp. is an intermediate gold mining company. The Company is engaged in mining, development and exploration of mineral deposits in Turkey. The Company’s segments include Turkish Business Unit and Corporate and other. It is engaged in the acquisition, exploration and production of gold in Turkey.
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