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Teranga Gold Corp (TSE:TGZ) was downgraded by research analysts at GMP Securities from a “hold” rating to a “reduce” rating in a report released on Friday, Analyst Ratings News reports.

Shares of Teranga Gold Corp (TSE:TGZ) traded down 7.76% on Friday, hitting $1.07. The stock had a trading volume of 2,601,429 shares. Teranga Gold Corp has a 52 week low of $0.42 and a 52 week high of $1.54. The stock’s 50-day moving average is $0. and its 200-day moving average is $0.65. The company has a price-to-earnings ratio of 3.05.

Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Teranga Gold Corp from C$1.30 to C$1.60 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at CIBC raised their price target on shares of Teranga Gold Corp from C$1.20 to C$1.30 in a research note on Thursday, January 30th. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Teranga Gold Corp from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Teranga Gold Corp presently has an average rating of “Hold” and a consensus price target of C$1.21.

Teranga Gold Corporation (TSE:TGZ) is a Canada-based gold company, which was created to acquire the Sabodala gold mine and a large regional exploration land package, located in Senegal, West Africa, from Mineral Deposits Limited (MDL).

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