Alacer Gold (ASR) Stock Rating Upgraded by CIBC

Alacer Gold (TSE:ASR) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued on Friday. The firm presently has a C$3.50 price target on the mining company’s stock, up from their previous price target of C$2.75. CIBC’s price objective would indicate a potential upside of 64.32% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Scotiabank reduced their price objective on shares of Alacer Gold from C$3.75 to C$3.25 and set a “sector perform” rating on the stock in a research note on Wednesday. BMO Capital Markets reduced their price objective on shares of Alacer Gold from C$3.00 to C$2.50 in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$3.23.

Shares of Alacer Gold (TSE ASR) traded down C$0.01 during trading on Friday, reaching C$2.13. 458,626 shares of the company’s stock were exchanged, compared to its average volume of 401,413. The firm has a market capitalization of $630.15, a P/E ratio of 9.68 and a beta of -1.06. Alacer Gold has a 12-month low of C$1.95 and a 12-month high of C$3.11.

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Alacer Gold Company Profile

Alacer Gold Corp. is an intermediate gold mining company. The Company is engaged in mining, development and exploration of mineral deposits in Turkey. The Company’s segments include Turkish Business Unit and Corporate and other. It is engaged in the acquisition, exploration and production of gold in Turkey.

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