Morgan Stanley Begins Coverage on Detour Gold (DGC)
Stock analysts at Morgan Stanley assumed coverage on shares of Detour Gold (TSE:DGC) in a report issued on Wednesday. The firm set an “equal weight” rating and a C$15.50 price target on the stock. Morgan Stanley’s price target points to a potential upside of 19.32% from the stock’s previous close.
A number of other analysts have also recently weighed in on DGC. Analysts at CSFB cut their price target on shares of Detour Gold from C$16.00 to C$14.50 in a research note on Thursday, July 31st. They now have a “neutral” rating on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Detour Gold in a research note on Thursday, July 31st. They now have a C$14.50 price target on the stock, down previously from C$16.00. Finally, analysts at National Bank Financial cut their price target on shares of Detour Gold from C$15.50 to C$15.00 in a research note on Wednesday, July 30th. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$14.29.
Shares of Detour Gold (TSE:DGC) opened at 12.99 on Wednesday. Detour Gold has a 52-week low of $2.88 and a 52-week high of $15.62. The stock has a 50-day moving average of $13.51 and a 200-day moving average of $11.96. The company’s market cap is $2.050 billion.
Detour Gold (TSE:DGC) last released its earnings data on Thursday, July 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of ($0.07) by $0.06. On average, analysts predict that Detour Gold will post $-0.32 earnings per share for the current fiscal year.
Detour Gold Corporation is a Canadian gold exploration and development company. The Company’s principal business is the acquisition, exploration, development and operation of mineral properties.
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