Canaccord Genuity Raises Detour Gold (DGC) Price Target to C$23.50

Detour Gold (TSE:DGC) had its price target increased by investment analysts at Canaccord Genuity from C$22.50 to C$23.50 in a research report issued to clients and investors on Friday. Canaccord Genuity’s price target points to a potential upside of 72.04% from the stock’s previous close.

A number of other equities research analysts also recently commented on DGC. CSFB raised shares of Detour Gold from a “neutral” rating to an “outperform” rating and set a C$16.00 price objective on the stock in a research report on Thursday, October 26th. Scotiabank dropped their price objective on shares of Detour Gold from C$21.00 to C$18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. National Bank Financial dropped their price objective on shares of Detour Gold from C$22.50 to C$21.50 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Eight Capital reissued a “buy” rating on shares of Detour Gold in a research report on Thursday, November 16th. Finally, Desjardins reissued a “buy” rating on shares of Detour Gold in a research report on Monday, December 11th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$20.70.

Detour Gold (DGC) traded down C$0.44 during trading on Friday, reaching C$13.66. 1,038,654 shares of the company’s stock were exchanged, compared to its average volume of 922,370. Detour Gold has a 12 month low of C$12.50 and a 12 month high of C$20.42. The firm has a market cap of $2,450.00, a price-to-earnings ratio of 33.32 and a beta of -1.65.

Detour Gold (TSE:DGC) last announced its quarterly earnings data on Wednesday, October 25th. The mining company reported C$0.26 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.15 by C$0.11. Detour Gold had a net margin of 25.07% and a return on equity of 8.60%.

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About Detour Gold

Detour Gold Corporation is a Canada-based intermediate gold producing company. The Company is engaged in the acquisition, exploration, development and operation of mineral property interests. Its primary asset is its Detour Lake mine, which is an open pit operation located in northeastern Ontario, approximately 300 kilometers northeast of Timmins and over 180 kilometers by road northeast of Cochrane.

Analyst Recommendations for Detour Gold (TSE:DGC)

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