Premier Gold Mines (PG) PT Lowered to C$4.50

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Premier Gold Mines (TSE:PG) had its price objective lowered by stock analysts at Canaccord Genuity from C$4.75 to C$4.50 in a research note issued on Thursday. Canaccord Genuity’s price objective would suggest a potential upside of 133.16% from the company’s previous close.

PG has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a C$4.50 price target on shares of Premier Gold Mines in a research report on Thursday, July 5th. CIBC decreased their price target on Premier Gold Mines from C$4.50 to C$3.75 in a research report on Thursday, August 9th. Finally, TD Securities decreased their price target on Premier Gold Mines from C$3.25 to C$3.00 and set a “hold” rating for the company in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$4.08.

Shares of PG stock opened at C$1.93 on Thursday. Premier Gold Mines has a fifty-two week low of C$1.69 and a fifty-two week high of C$3.94.

Premier Gold Mines (TSE:PG) last announced its earnings results on Tuesday, August 7th. The mining company reported C($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.01) by C($0.04). Premier Gold Mines had a net margin of 6.21% and a return on equity of 3.98%. The firm had revenue of C$35.45 million for the quarter.

In related news, insider Shaun Anthony Drake sold 20,000 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of C$1.96, for a total value of C$39,200.00. Insiders purchased a total of 51,500 shares of company stock valued at $101,185 in the last quarter.

About Premier Gold Mines

Premier Gold Mines Limited explores for, develops, and produces gold and silver deposits in Canada, the United States, and Mexico. It principally holds a 100% interest in the Mercedes Mine property located in the Southeast of Magdalena de Kino, in Sonora State, Mexico; a 40% interest in the South Arturo Mine situated in Elko County, Nevada; a 50% interest in the Greenstone Gold property, which includes the Hardrock project located in Ontario; a 100% interest in the McCoy-Cove project situated in Nevada; a 44% interest in the Rahil Bonaza project located in Northwestern Ontario; and a 100% interest in the Hasaga project situated in Red Lake Mining District, Ontario.

See Also: Leveraged Buyout (LBO) Explained

Analyst Recommendations for Premier Gold Mines (TSE:PG)

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