Scotiabank Reiterates Outperform Rating for Semafo Inc. (SMF)

Semafo Inc. (TSE:SMF)‘s stock had its “outperform” rating reissued by analysts at Scotiabank in a research note issued to investors on Wednesday. They currently have a C$5.25 price target on the mining company’s stock. Scotiabank’s target price suggests a potential upside of 63.04% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Clarus Securities reissued a “hold” rating on shares of Semafo in a research note on Thursday, November 9th. Desjardins restated a “buy” rating and issued a C$4.75 target price on shares of Semafo in a report on Friday, September 29th. Finally, CSFB upgraded shares of Semafo from a “neutral” rating to an “outperform” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$5.19.

Shares of Semafo (TSE SMF) traded down C$0.04 during trading on Wednesday, hitting C$3.22. 1,426,514 shares of the company traded hands, compared to its average volume of 1,810,230. Semafo has a one year low of C$2.68 and a one year high of C$5.24.

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In related news, insider Martin Milette acquired 29,900 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were purchased at an average price of C$3.35 per share, for a total transaction of C$100,165.00. Also, Director Benoit Desormeaux acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were bought at an average price of C$3.33 per share, for a total transaction of C$33,300.00.

Semafo Company Profile

SEMAFO Inc is a Canada-based mining company. The Company’s segments include Mana, Burkina Faso; Natougou, Burkina Faso, and Other exploration. The Company, through its subsidiaries, is engaged in gold mining activities, including exploration, development and operations. Its properties include Mana project, which is located in Burkina Faso that includes the satellite Siou and Fofina deposits; Natougou advanced gold deposit, which is located approximately 320 kilometers east of Ouagadougou, and consists of a drill database of over 170 diamond, 625 multi-purpose (reverse-circulation (RC) pre-collar and core tail) and 550 RC drill holes; Banfora project, which is located approximately 200 kilometers south west of Mana, and Nabanga project, which is located approximately 250 kilometers south-east of Ouagadougou.

Analyst Recommendations for Semafo (TSE:SMF)

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