Continental Gold Inc (CNL) Price Target Raised to C$7.00 at TD Securities

Continental Gold Inc (TSE:CNL) had its price target hoisted by stock analysts at TD Securities from C$6.50 to C$7.00 in a note issued to investors on Friday, May 12th. The brokerage currently has a “speculative buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 99.43% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Scotiabank reissued a “sector perform” rating and issued a C$5.50 price target on shares of Continental Gold in a research note on Wednesday, April 26th. Royal Bank Of Canada increased their price target on Continental Gold from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Finally, Dundee Securities began coverage on shares of Continental Gold in a research report on Wednesday, January 25th. They issued a “buy” rating and a C$7.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Continental Gold has an average rating of “Buy” and a consensus price target of C$6.17.

Analyst Recommendations for Continental Gold (TSE:CNL)

Shares of Continental Gold (CNL) traded up 3.54% during mid-day trading on Friday, hitting $3.51. The stock had a trading volume of 12,609,696 shares. The company has a 50 day moving average price of $3.31 and a 200 day moving average price of $4.00. Continental Gold has a 12-month low of $2.62 and a 12-month high of $5.75. The firm’s market cap is $498.02 million.

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In related news, Director Kenneth Glyndwr Thomas acquired 11,111 shares of the firm’s stock in a transaction dated Tuesday, April 18th. The stock was bought at an average price of C$3.59 per share, for a total transaction of C$39,888.49. Also, Director Ari B. Sussman acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The stock was bought at an average price of C$4.10 per share, with a total value of C$41,000.00. In the last quarter, insiders have acquired 58,245 shares of company stock valued at $222,109.

Continental Gold Company Profile

Continental Gold Limited is an exploration-stage company. The Company is engaged in the acquisition, exploration, evaluation and development of principally gold resource properties in Colombia. The Company holds the rights to explore and develop six properties in Colombia totaling approximately 122,317 hectares.

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