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Analysts at Scotiabank started coverage on shares of Teranga Gold Corp (TSE:TGZ) in a research report issued to clients and investors on Monday, AnalystRatingsNetwork.com reports. The firm set a “sector perform” rating and a C$1.00 price target on the stock. Scotiabank’s price objective suggests a potential upside of 40.85% from the company’s current price.

Shares of Teranga Gold Corp (TSE:TGZ) traded down 1.39% during mid-day trading on Monday, hitting $0.71. 1,691,694 shares of the company’s stock traded hands. Teranga Gold Corp has a one year low of $0.42 and a one year high of $1.22. The stock has a 50-day moving average of $0.84 and a 200-day moving average of $0.75. The company has a price-to-earnings ratio of 72.00.

Teranga Gold Corp (TSE:TGZ) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.03.

TGZ has been the subject of a number of other recent research reports. Analysts at RBC Capital cut their price target on shares of Teranga Gold Corp from C$1.50 to C$1.30 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Jennings Capital cut their price target on shares of Teranga Gold Corp from C$2.00 to C$1.75 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Mackie cut their price target on shares of Teranga Gold Corp from C$1.90 to C$1.50 in a research note on Thursday. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$1.27.

Teranga Gold Corporation (TSE:TGZ) is a Canadian-based gold company.

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