Royal Bank of Canada Boosts Teranga Gold (TGZ) Price Target to C$6.50

Teranga Gold (TSE:TGZ) had its price target boosted by Royal Bank of Canada from C$4.50 to C$6.50 in a research report released on Wednesday. The firm currently has an outperform rating on the stock.

TGZ has been the subject of several other reports. BMO Capital Markets increased their price objective on shares of Teranga Gold from C$4.50 to C$5.50 in a research report on Wednesday, March 28th. Scotiabank set a C$3.75 price objective on shares of Teranga Gold and gave the stock a sector perform rating in a research report on Thursday, January 11th.

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TGZ opened at C$4.36 on Wednesday. Teranga Gold has a twelve month low of C$2.36 and a twelve month high of C$4.75.

Teranga Gold (TSE:TGZ) last posted its quarterly earnings data on Friday, February 23rd. The company reported C$0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.17 by C($0.16). Teranga Gold had a return on equity of 6.64% and a net margin of 17.96%. The firm had revenue of C$112.12 million for the quarter.

In other news, insider Corporation Tablo acquired 87,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of C$3.57 per share, for a total transaction of C$312,375.00. Over the last quarter, insiders have bought 92,750 shares of company stock valued at $332,421.

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About Teranga Gold

Teranga Gold Corporation engages in the exploration, development, production, and sale of gold in West Africa. Its projects comprising Sabodala gold mine located in the Republic of Senegal and Wahgnion gold project located in Burkina Faso. The company also develops and explores various projects in Burkina Faso, Côte d'Ivoire, and Senegal.

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