For what it's worth...
Cormark Morning Notes 1/31/17
Teranga reported its Q4/16 operational results, with production for the quarter beating our expectations and exceeding management guidance on a full year basis. Guidance for 2017 came in below our expectations as the production guidance range is slightly below our estimate and costs have been guided higher due to marginally higher costs reflecting higher fuel prices, G&A and CSR costs. Work continues on the Banfora feasibility study that is expected to be completed by mid-2017 at which point a construction decision will be made. Trading at only 0.70x NAV and 6.6x CF currently, we believe there is considerable room for the shares to move higher as the company delivers on operational milestones at Sabodala and advances Banfora to development and ultimately production. (Morning Notes)
Teranga Gold Corp (TGZ) Given Average Recommendation of “Buy” by Analysts
Posted by David Glaser on Jan 31st, 2017
Teranga Gold Corp logoShares of Teranga Gold Corp (TSE:TGZ) have received a consensus recommendation of “Buy” from the six analysts that are currently covering the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$1.15.
Several research analysts recently weighed in on the company. BMO Capital Markets lowered their price objective on Teranga Gold Corp to C$1.20 and set a “market perform” rating for the company in a research report on Friday, November 25th. Scotiabank reiterated a “sector perform” rating and issued a C$1.50 price objective on shares of Teranga Gold Corp in a research report on Friday, January 6th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Teranga Gold Corp in a research report on Monday, October 31st.
Teranga Gold Corp (TSE:TGZ) remained flat at $0.91 on Tuesday. The company’s stock had a trading volume of 384,091 shares. Teranga Gold Corp has a 1-year low of $0.38 and a 1-year high of $1.40. The stock’s market cap is $356.95 million. The firm’s 50-day moving average price is $0.87 and its 200-day moving average price is $1.05.
