BMO Capital Believes Atlantic Gold (TSXV: AGB) Won’t Stop Here

By Carrie Williams

Atlantic Gold (TSXV: AGB), the Consumer Goods sector company, has received a rating update from a Wall Street analyst yesterday. Analyst David Gagliano from BMO Capital remains bullish on the stock and has a C$2 price target.

According to TipRanks.com, Gagliano is a 4-star analyst with an average return of 4.2% and a 51.5% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Stillwater Mining Company.

Currently, the analyst consensus on Atlantic Gold is Moderate Buy and the average price target is C$2.03, representing a 29.3% upside.

In a report issued on June 22, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$2.05 price target.

The company has a one year high of C$1.64 and a one year low of C$0.65. Currently, Atlantic Gold has an average volume of 435K.

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 Wednesday at $1.57, close to its 52-week high of $1.64.