Scotiabank Thinks Premier Gold Mines’ Stock is Going to Recover

By Carrie Williams

Premier Gold Mines (PGResearch Report), the Materials sector company, was revisited by a Wall Street analyst on January 25. Analyst Ovais Habib from Scotiabank rated Premier Gold Mines (PGResearch Report) a Buy on January 25, setting a C$4.25 price target.

According to TipRanks.com, Habib is ranked #521 out of 5129 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Premier Gold Mines with a C$4.38 average price target, representing a 150.3% upside. In a report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a C$4.50 price target.

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Premier Gold Mines’ market cap is currently C$355.2M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.93.

Premier Gold Mines Ltd. engages in gold producing and mineral exploration, which focuses on precious metals projects in proven, accessible, and safe mining jurisdictions in Canada, the United States, and Mexico. Its projects include Greenstone Gold Property, McCoy-Cove Project, South Arturo Mine, and Mercedes Gold-Silver Mine.

The company’s shares closed on Tuesday at C$1.75, close to its 52-week low of C$1.39.