Teranga Gold (TGZ) Reaches New 12-Month High at $5.54

Teranga Gold Corp (TSE:TGZ)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$5.54 and last traded at C$5.50, with a volume of 312187 shares. The stock had previously closed at C$5.41.

TGZ has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on Teranga Gold from C$4.50 to C$5.50 in a research report on Wednesday, March 28th. Canaccord Genuity reaffirmed a “buy” rating and set a C$8.50 price target on shares of Teranga Gold in a research report on Monday, April 23rd. Finally, Royal Bank of Canada upped their price target on Teranga Gold from C$4.50 to C$6.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 4th.

Teranga Gold (TSE:TGZ) last issued its quarterly earnings results on Thursday, May 3rd. The company reported C$0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.01). The business had revenue of C$109.02 million for the quarter. Teranga Gold had a return on equity of 6.64% and a net margin of 17.96%.

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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