01:22:36 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



Teranga Gold Corp (2)
Symbol TGZ
Shares Issued 107,343,902
Close 2018-04-23 C$ 4.94
Market Cap C$ 530,278,876
Recent Sedar Documents

Globe says new coverage rates Teranga Gold "buy"

2018-04-24 07:46 ET - In the News

The Globe and Mail reports in its Tuesday edition that Canaccord analyst Rahul Paul says Teranga Gold ($4.94) is likely to draw increased investor attention in the near term as it transforms itself from a single-asset junior producer into a diversified intermediate. The Globe's David Leeder writes that Mr. Paul began coverage of the Toronto-based company with a "buy" rating. Mr. Paul set a share target of $8.50. Analysts on average target the shares at $7.06. Mr. Paul says in a note: "Teranga Gold is currently a single asset junior gold producer expected to produce approximately 225,000 ounces in fiscal 2018 at AISC of $991 per ounce from the Sabodala open-pit gold mine in Senegal. Senegal has over the last few years established itself as one of the more stable post-colonial democracies in West Africa -- Teranga has successfully operated in the country with no problems since 2010. While we view geopolitical risk as relatively low, we believe the combination of junior producer status and reliance on a single asset and on a single West African jurisdiction for cash flow typically comes with a material valuation discount in current market conditions, highlighted by relatively low risk tolerance among investors."

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