FY2017 Earnings Forecast for Teranga Gold Corp (TGZ) Issued By Cormark

Teranga Gold Corp (TSE:TGZ) – Analysts at Cormark raised their FY2017 earnings estimates for Teranga Gold in a research note issued to investors on Thursday. Cormark analyst R. Gray now forecasts that the company will earn $0.60 per share for the year, up from their previous estimate of $0.49. Cormark also issued estimates for Teranga Gold’s Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.13 EPS, Q1 2019 earnings at $0.11 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.18 EPS and FY2019 earnings at $0.64 EPS.

Other research analysts also recently issued research reports about the stock. Scotiabank set a C$3.75 target price on shares of Teranga Gold and gave the stock a “sector perform” rating in a report on Thursday. BMO Capital Markets upgraded shares of Teranga Gold from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$4.00 to C$4.50 in a report on Thursday.

Teranga Gold (TGZ) opened at C$3.43 on Friday. The company has a market cap of $367.37, a price-to-earnings ratio of 11.83 and a beta of -1.05. Teranga Gold has a twelve month low of C$2.36 and a twelve month high of C$5.25.

In related news, insider Corporation Tablo acquired 56,900 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of C$2.48 per share, for a total transaction of C$141,112.00. Also, insider David Jacques Mimran acquired 99,100 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were bought at an average price of C$2.92 per share, for a total transaction of C$289,372.00. Insiders purchased a total of 1,072,500 shares of company stock worth $2,808,036 in the last quarter.

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About Teranga Gold

Teranga Gold Corp is a Canada-based mining company. The Company is engaged in the production, sale and exploration of gold in Senegal, West Africa. The Company owns and operates a gold mine and mill, the Sabodala Gold mine, in Senegal, West Africa. The Company is focused on the exploration and development of Sabodala gold mine, which is located approximately 650 kilometers southeast of Dakar, the capital of Senegal.

Earnings History and Estimates for Teranga Gold (TSE:TGZ)

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