TD Securities Increases Detour Gold Price Target to C$14.00 (DGC)

Posted by Hossein Forouzandeh on Feb 6th, 2014

Detour Gold (TSE:DGC) had its target price lifted by TD Securities from C$11.00 to C$14.00 in a research note released on Wednesday morning, They currently have a buy rating on the stock.

TD Securities has also modified their ratings on a number of other stocks in the few days. The firm upgraded shares of Potash Corp from a hold rating to a buy rating. The firm now has a $37.00 price target on that stock, up previously from $33.00. Also, TD Securities upgraded shares of CGI Group to a buy rating.

Several other analysts have also recently commented on the stock. Analysts at Scotiabank initiated coverage on shares of Detour Gold in a research note to investors on Monday. They set an outperform rating and a C$10.00 price target on the stock. Separately, analysts at Desjardins upgraded shares of Detour Gold to a buy rating in a research note to investors on Wednesday, January 29th. Finally, analysts at RBC Capital raised their price target on shares of Detour Gold from C$6.50 to C$8.50 in a research note to investors on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of C$9.43.

Shares of Detour Gold traded up 4.72% during mid-day trading on Wednesday, hitting $7.10. 1,557,765 shares of the company’s stock traded hands. Detour Gold has a 1-year low of $2.88 and a 1-year high of $22.35. The stock’s 50 day moving average is $5.51 and its 200-day moving average is $7.61. The company has a market cap of $980.9 million and a P/E ratio of 15.77.

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