Detour Gold (TSE:DGC) Rating Increased to Buy at Canaccord Genuity

Detour Gold (TSE:DGC) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a C$27.50 price objective on the mining company’s stock, up from their prior price objective of C$24.00. Canaccord Genuity’s target price would indicate a potential upside of 14.92% from the stock’s previous close.

DGC has been the topic of several other reports. National Bank Financial cut Detour Gold from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from C$27.00 to C$21.72 in a research note on Tuesday, November 26th. TD Securities lowered Detour Gold from a “buy” rating to a “tender” rating and lowered their price objective for the company from C$29.00 to C$25.50 in a research note on Tuesday, November 26th. Barclays raised their price objective on Detour Gold from C$26.00 to C$29.00 in a research note on Friday, August 16th. Raymond James reiterated a “market perform” rating and issued a C$26.00 target price on shares of Detour Gold in a report on Monday, November 18th. Finally, Eight Capital downgraded Detour Gold from a “buy” rating to a “neutral” rating and boosted their target price for the company from C$16.00 to C$21.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of C$26.07.

Shares of TSE:DGC opened at C$23.93 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.30 and a debt-to-equity ratio of 5.52. Detour Gold has a 12 month low of C$9.55 and a 12 month high of C$25.45. The company has a 50-day moving average price of C$21.41 and a 200 day moving average price of C$19.55. The company has a market cap of $4.34 billion and a price-to-earnings ratio of 469.22.

Detour Gold Company Profile

Detour Gold Corporation, a gold mining company, engages in the acquisition, exploration, development, and operation of mineral properties in Canada. It primarily explores for gold. The company's primary asset is the Detour Lake property consisting of a contiguous block of mining claims and leases totaling 646 square kilometers located in the District of Cochrane.

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Analyst Recommendations for Detour Gold (TSE:DGC)

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