The Globe and Mail reports in its Tuesday, June 28, edition that CIBC World Markets analyst Allison Carson, in response to Ascot Resources' decision to halt additional construction activities at its Premier gold project in the Golden Triangle of B.C., cut her recommendation to "neutral" from "outperformer." The Globe's David Leeder writes in the Eye On Equities column that Ms. Carson cut her share target to 80 cents from $1.30. Analysts on average target the shares at $1.19.
Ms. Carson says in a note, "Although we remain confident on the technical and operational aspects of this project, due to the uncertainty around the financing and development we have lowered our rating." The Globe reported on June 19, 2020, that Desjardins Securities analyst David Stewart, seeing an improved outlook for gold, reiterated his "buy" recommendation when Ascot shares could be had for 83 cents. The Globe reported on April 6, 2021, that Raymond James analyst Craig Stanley had lowered his recommendation for Ascot Resources to "market perform" from "outperform." The shares could then be had for 92 cents.
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