Desjardins Downgrades Detour Gold to Hold (DGC)
Detour Gold (TSE:DGC) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Stock Ratings Network.com reports. They currently have a C$6.75 target price on the stock, up from their previous target price of C$6.00. Desjardins’ price target suggests a potential upside of 11.39% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at TD Securities raised their price target on shares of Detour Gold from C$8.50 to C$11.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Detour Gold from C$2.50 to C$4.25 in a research note to investors on Monday. They now have a “sell” rating on the stock. Finally, analysts at CIBC cut their price target on shares of Detour Gold from C$12.00 to C$10.50 in a research note to investors on Wednesday, January 1st. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Detour Gold currently has an average rating of “Buy” and a consensus price target of C$9.32.
Shares of Detour Gold (TSE:DGC) opened at 6.06 on Wednesday. Detour Gold has a 52-week low of $2.88 and a 52-week high of $23.51. The stock has a 50-day moving average of $4.72 and a 200-day moving average of $7.79. The company has a market cap of $837.2 million and a P/E ratio of 14.65.
Detour Gold Corporation is a Canadian gold exploration and development company. The Company is engaged in the acquisition, exploration and development of mineral properties.
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