Atlantic Gold Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, Atlantic Gold (TSXV: AGB). Canaccord Genuity’s analyst Eric Zaunscherb reiterates their Buy rating on the shares, with a C$2.25 price target.

Zaunscherb has an average return of 92.3% when recommending Atlantic Gold.

According to TipRanks.com, Zaunscherb is ranked #38 out of 4694 analysts.

Atlantic Gold has an analyst consensus of Moderate Buy, with a price target consensus of C$2.25.

Based on Atlantic Gold’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of C$0 and GAAP net loss of C$992.6K. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$1.55 million.

Atlantic Gold Corp. engages in the acquisition, exploration, and development of mineral properties. It holds interest in the Moose River Consolidated Project comprising the Touquoy and the Beaver Dam gold deposits; the Cochrane Hill gold deposit; and the Fifteen Mile Stream deposit.

The company’s shares closed on Thursday at C$1.69, close to its 52-week high of C$1.87.