Detour Gold Stock Rating Upgraded by Desjardins (DGC)

Posted by Max Byerly on Feb 6th, 2014

Detour Gold (TSE:DGC) was upgraded by stock analysts at Desjardins from a “buy” rating to a “top pick” rating in a report issued on Thursday. The firm currently has a C$9.50 price objective on the stock, up from their previous price objective of C$7.50. Desjardins’ target price would indicate a potential upside of 40.12% from the company’s current price.

Shares of Detour Gold traded up 5.75% on Thursday, hitting $7.17. The stock had a trading volume of 2,256,252 shares. Detour Gold has a 52-week low of $2.88 and a 52-week high of $22.35. The stock’s 50 day moving average s $5.51 and its 200-day moving average is $7.61. The company has a market cap of $990.6 million and a P/E ratio of 15.77.

Several other analysts have also recently commented on the stock. Analysts at Raymond James raised their price target on shares of Detour Gold from C$10.50 to C$12.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Detour Gold from C$5.00 to C$7.00 in a research note to investors on Thursday. Finally, analysts at RBC Capital raised their price target on shares of Detour Gold from C$8.50 to C$9.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Detour Gold has an average rating of “Buy” and a consensus target price of C$9.63.

Detour Gold Corporation is s Canadian gold exploration and development company. The Company’s principal business is the acquisition, exploration, development and operation of mineral properties.