Desjardins Equities Analysts Increase Earnings Estimates for Atlantic Gold Corp (CVE:AGB)

Atlantic Gold Corp (CVE:AGB) – Equities researchers at Desjardins upped their FY2019 earnings per share (EPS) estimates for shares of Atlantic Gold in a research note issued to investors on Monday, March 25th, Zacks Investment Research reports. Desjardins analyst R. Ray now forecasts that the company will post earnings of $0.22 per share for the year, up from their previous forecast of $0.21. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Atlantic Gold’s FY2020 earnings at $0.15 EPS and FY2021 earnings at $0.09 EPS.

Atlantic Gold (CVE:AGB) last issued its quarterly earnings results on Tuesday, March 5th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.04 by C($0.01). The business had revenue of C$37.64 million for the quarter.

Several other brokerages also recently weighed in on AGB. Raymond James set a C$2.50 price target on shares of Atlantic Gold and gave the company an “outperform” rating in a report on Thursday, February 21st. Pi Financial boosted their target price on shares of Atlantic Gold from C$2.75 to C$2.85 in a report on Monday, March 25th. National Bank Financial boosted their target price on shares of Atlantic Gold from C$2.75 to C$3.00 in a report on Tuesday, March 26th. Finally, BMO Capital Markets set a C$2.75 target price on shares of Atlantic Gold and gave the stock an “outperform” rating in a report on Wednesday, March 27th. Six equities research analysts have rated the stock with a buy rating, Atlantic Gold presently has a consensus rating of “Buy” and a consensus target price of C$2.85.

CVE:AGB traded up C$0.04 during trading hours on Thursday, hitting C$2.07. 236,900 shares of the stock traded hands, compared to its average volume of 376,877. The company has a debt-to-equity ratio of 75.29, a current ratio of 2.86 and a quick ratio of 2.20. Atlantic Gold has a 1 year low of C$1.40 and a 1 year high of C$2.38. The company has a market capitalization of $490.22 million and a P/E ratio of 17.25.

Atlantic Gold Company Profile

Atlantic Gold Corporation engages in the acquisition, exploration, and development of gold properties in Canada. Its Touquoy Gold Project covers an area of approximately 1,760 hectares located in Nova Scotia; and holds 100% interest the in Beaver Dam Gold Project. The company was formerly known as Spur Ventures Inc and changed its name to Atlantic Gold Corporation in August 2014.

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Earnings History and Estimates for Atlantic Gold (CVE:AGB)

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