RBC Capital Believes Alacer Gold (TSX: ASR) Won’t Stop Here

By Austin Angelo

Alacer Gold (TSX: ASR), the Materials sector company was revisited on July 10, and remains undervalued for at least one analyst on the street. Analyst Stephen Walker from RBC Capital rated Alacer Gold (TSX: ASR) a Buy on July 10, setting a C$3.50 price target.

According to TipRanks.com, Walker is a 5-star analyst with an average return of 11.5% and a 53.6% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Agnico Eagle, Kinross Gold, and Royal Gold.

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Alacer Gold has an analyst consensus of Hold.

Alacer Gold’s market cap is currently C$746.2M and has a P/E ratio of 5.8. The company has a Price to Book ratio of 0.77.

Alacer Gold Corp. is a gold mining company, which engages in the exploration and development of mineral properties in Turkey. Its explorations include Copler District and Turkey Regional. The company was founded on September 20, 1993 and is headquartered in Denver, CO.

The company’s shares closed on Thursday at C$2.55, close to its 52-week high of C$2.63.