Alacer Gold (ASR) Upgraded to Outperform at CIBC

Alacer Gold (TSE:ASR) was upgraded by research analysts at CIBC from a “neutral” rating to an “outperform” rating in a report issued on Friday. The brokerage presently has a C$3.50 price target on the mining company’s stock, up from their previous price target of C$2.75. CIBC’s price target indicates a potential upside of 61.29% from the company’s previous close.

Several other brokerages have also recently weighed in on ASR. Scotiabank dropped their price objective on Alacer Gold from C$3.75 to C$3.25 and set a “sector perform” rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their price objective on Alacer Gold from C$3.00 to C$2.50 in a research note on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$3.23.

Shares of Alacer Gold (TSE ASR) traded up C$0.03 during trading hours on Friday, reaching C$2.17. The company’s stock had a trading volume of 713,875 shares, compared to its average volume of 422,906. Alacer Gold has a fifty-two week low of C$1.95 and a fifty-two week high of C$3.11. The company has a market cap of $624.28, a PE ratio of 6.10 and a beta of -1.06.

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Alacer Gold Company Profile

Alacer Gold Corp. is an intermediate gold mining company. The Company is engaged in mining, development and exploration of mineral deposits in Turkey. The Company’s segments include Turkish Business Unit and Corporate and other. It is engaged in the acquisition, exploration and production of gold in Turkey.

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