Trade Report: The CIBC Downgraded Alacer Gold Corp (ASR) Price Target to C$3.25

The CIBC Downgraded Alacer Gold Corp (ASR) Price Target to C$3.25

Alacer Gold Corp (TSE:ASR) had its price target reduced by CIBC from C$3.50 to C$3.25 in a research report issued to clients and investors on Thursday. CIBC’s target price would suggest a potential upside of 20.82% from the stock’s previous close.

Several other equities analysts have also commented on the company. Scotiabank reissued an “outperform” rating and issued a C$4.50 target price on shares of Alacer Gold Corp in a report on Monday, July 18th. National Bank Financial raised their price objective on Alacer Gold Corp from C$3.75 to C$3.85 in a report on Wednesday, July 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of C$3.87.

Alacer Gold Corp (TSE:ASR) opened at 2.69 on Thursday. Alacer Gold Corp has a 12-month low of $2.08 and a 12-month high of $3.79. The company has a 50-day moving average price of $3.21 and a 200-day moving average price of $3.16. The firm has a market cap of $785.59 million and a PE ratio of 32.02.

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