Detour Gold Receives a Buy from RBC Capital

By Austin Angelo

In a new note to investors on July 9, an analyst has provided a rating update for the Materials sector company, Detour Gold (TSX: DGC). On July 9, analyst Dan Rollins gave a Buy rating to DGC and set a C$16 price target.

According to TipRanks.com, Rollins is ranked #4757 out of 4842 analysts.

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Currently, the analyst consensus on Detour Gold is a Strong Buy with an average price target of C$17, a 34.9% upside from current levels. In a report issued on June 28, Scotiabank also upgraded the stock to Buy with a C$18 price target.

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Based on Detour Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$12.52 million. In comparison, last year the company had a net profit of C$32.83 million.

Detour Gold Corp. engages acquisition, exploration, development, and operation of mineral properties. It focuses in the Detour Lake Mine located in northeastern Ontario. The company was founded by Gerald S. Panneton on July 19, 2006 and is headquartered in Toronto, Canada.

The company’s shares closed on Thursday at C$12.60.