Alacer Gold (TSE:ASR) Reaches New 1-Year High on Analyst Upgrade

Alacer Gold Corp (TSE:ASR) shares hit a new 52-week high on Wednesday after CIBC raised their price target on the stock from C$5.25 to C$6.00. The stock traded as high as C$5.28 and last traded at C$5.26, with a volume of 100048 shares trading hands. The stock had previously closed at C$5.19.

A number of other analysts also recently commented on the company. National Bank Financial upped their price objective on Alacer Gold from C$5.50 to C$6.25 in a report on Tuesday, July 23rd. BMO Capital Markets upped their price objective on Alacer Gold from C$4.75 to C$5.50 in a report on Friday, July 19th. Raymond James restated an “outperform” rating and set a C$6.00 price objective on shares of Alacer Gold in a report on Friday, July 19th. Finally, Royal Bank of Canada upped their price objective on Alacer Gold from C$4.00 to C$5.50 and gave the stock an “outperform” rating in a report on Monday, June 17th.

The company has a market cap of $1.55 billion and a PE ratio of -185.33. The company has a debt-to-equity ratio of 45.66, a current ratio of 1.54 and a quick ratio of 0.73. The business’s fifty day simple moving average is C$4.61.

Alacer Gold (TSE:ASR) last announced its quarterly earnings results on Tuesday, April 30th. The mining company reported C$0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.07 by C$0.01. The company had revenue of C$97.75 million during the quarter. On average, analysts expect that Alacer Gold Corp will post 0.39 EPS for the current fiscal year.

About Alacer Gold (TSE:ASR)

Alacer Gold Corp. engages in the mining, development, and exploration of mineral deposits in Turkey. It primarily holds an 80% interest in the Çöpler gold mine that is located in the Erzincan Province, east-central Turkey. The company is based in Denver, Colorado.

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