Eight Capital Raises GoGold Resources (TSE:GGD) Price Target to C$3.85

GoGold Resources (TSE:GGD) had its target price increased by investment analysts at Eight Capital from C$3.20 to C$3.85 in a note issued to investors on Thursday, BayStreet.CA reports. Eight Capital’s price objective indicates a potential upside of 158.39% from the company’s current price.

GoGold Resources Price Performance

Shares of GGD traded up C$0.07 during trading hours on Thursday, reaching C$1.49. 938,958 shares of the company traded hands, compared to its average volume of 643,595. The stock has a fifty day simple moving average of C$1.47 and a 200 day simple moving average of C$1.33. GoGold Resources has a fifty-two week low of C$0.94 and a fifty-two week high of C$1.79. The stock has a market capitalization of C$489.73 million, a PE ratio of -79.50 and a beta of 1.34. The company has a quick ratio of 8.30, a current ratio of 8.49 and a debt-to-equity ratio of 0.27.

GoGold Resources (TSE:GGD) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of C$0.01. The company had revenue of C$12.05 million for the quarter. GoGold Resources had a negative net margin of 0.77% and a negative return on equity of 0.08%. As a group, research analysts predict that GoGold Resources will post 0.0273478 EPS for the current fiscal year.

About GoGold Resources

GoGold Resources Inc engages in the exploration, development, and production of gold and silver in Mexico. The company holds 100 % interest in the Parral Tailings project, which covers an area of 141 hectares located in the state of Chihuahua, Mexico. It also holds 100% interest in the Los Ricos properties, which includes Los Ricos South and Los Ricos North projects, that covers 42 concessions with an area of approximately 22,000 hectares situated in the Jalisco State, Mexico.