Automotive Finco Corp was Downgraded to a Hold Rating at Canaccord Genuity

By Carrie Williams

In a new note to investors today, an analyst has provided a rating update for the Financial sector company, Automotive Finco Corp (TSXV: AFCC). Raveel Afzaal, an analyst with Canaccord Genuity, has downgraded their rating on AFCC to Hold , with a C$2.25 price target.

According to TipRanks.com, Afzaal is ranked #3886 out of 4729 analysts.

Automotive Finco Corp has an analyst consensus of Hold, with a price target consensus of C$2.25.

Based on Automotive Finco Corp’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of C$863K and GAAP net loss of C$591.8K. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$439.7K.

Automotive Finco Corp. is an exploration stage company, which engages in the exploration and development of mineral properties. Its portfolio includes the following properties: Duncan Lake ore property, Yasinski polymetallic exploration property, and Kali project. The company was founded on December 5, 1986 and is headquartered in Toronto, Canada.

The company’s shares closed on Wednesday at C$2.15.