Detour Gold (DGC) Price Target Lowered to C$18.00 at Canaccord Genuity

Detour Gold (TSE:DGC) had its price target reduced by research analysts at Canaccord Genuity from C$19.00 to C$18.00 in a report issued on Thursday. Canaccord Genuity’s target price suggests a potential upside of 60.43% from the stock’s current price.

Several other equities analysts have also issued reports on DGC. Eight Capital raised Detour Gold from a “neutral” rating to a “buy” rating and decreased their target price for the stock from C$15.20 to C$14.80 in a research note on Thursday, June 28th. National Bank Financial increased their target price on Detour Gold from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, June 29th. BMO Capital Markets increased their target price on Detour Gold from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Friday, June 29th. TD Securities decreased their target price on Detour Gold from C$20.00 to C$18.50 and set a “buy” rating on the stock in a research note on Friday, June 29th. Finally, Royal Bank of Canada increased their target price on Detour Gold from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Monday, July 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of C$16.12.

DGC opened at C$11.22 on Thursday. Detour Gold has a 12-month low of C$9.11 and a 12-month high of C$15.40.

Detour Gold (TSE:DGC) last posted its earnings results on Wednesday, July 25th. The mining company reported C$0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.12 by C$0.03. Detour Gold had a return on equity of 8.60% and a net margin of 25.07%. The firm had revenue of C$247.54 million for the quarter.

In other Detour Gold news, insider Laurence Gaborit sold 6,000 shares of the stock in a transaction dated Monday, July 30th. The stock was sold at an average price of C$12.63, for a total value of C$75,780.00. Also, Director John Michael Kenyon purchased 5,000 shares of Detour Gold stock in a transaction on Tuesday, September 4th. The stock was bought at an average cost of C$10.49 per share, for a total transaction of C$52,450.00. Insiders sold a total of 112,327 shares of company stock worth $1,416,743 in the last ninety days.

About Detour Gold

Detour Gold Corporation, an intermediate gold mining company, engages in the acquisition, exploration, development, and operation of metal mineral properties in Canada. The company's primary asset is the Detour Lake property consisting of a contiguous group of mining leases and claims totaling 625 square kilometers located in the District of Cochrane.

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Analyst Recommendations for Detour Gold (TSE:DGC)

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