The stock of Guyana Goldfields Inc. (TSE:GUY) gapped up by $0.13 today and has $13.52 target or 61.00% above today’s $8.40 share price. The 5 months technical chart setup indicates low risk for the $1.50B company. The gap was reported on Nov, 1 by Barchart.com. If the $13.52 price target is reached, the company will be worth $915.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 476,630 shares traded hands. Guyana Goldfields Inc. (TSE:GUY) has risen 71.90% since March 28, 2016 and is uptrending. It has outperformed by 68.88% the S&P500.
Guyana Goldfields Inc. (TSE:GUY) Ratings Coverage
Out of 4 analysts covering Guyana Goldfields Inc. (TSE:GUY), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $12 is the highest target while $4 is the lowest. The $9.30 average target is 10.71% above today’s ($8.4) stock price. Guyana Goldfields Inc. has been the topic of 15 analyst reports since September 1, 2015 according to StockzIntelligence Inc. On Tuesday, January 19 the stock rating was maintained by RBC Capital Markets with “Outperform”. The rating was upgraded by BMO Capital Markets to “Outperform” on Tuesday, January 19. TD Securities upgraded Guyana Goldfields Inc. (TSE:GUY) on Wednesday, November 25 to “” rating.
More news for Guyana Goldfields Inc. (TSE:GUY) were recently published by: Marketwired.com, which released: “Guyana Goldfields Inc. Announces C$110 Million Bought Deal Financing” on June 27, 2016. Seekingalpha.com‘s article titled: “Guyana Goldfields Incorporated: Genuinely Good Investment” and published on February 22, 2016 is yet another important article.
Guyana Goldfields Inc. is a Canada mineral development and exploration firm primarily focused on the acquisition, exploration and development of gold deposits in Guyana, South America. The company has a market cap of $1.50 billion. The Company’s Aurora Gold Mine is an operating gold mine project, which is located in Guyana. It has a 27.02 P/E ratio. The Firm owns approximately 100% interest in the Aurora Project, which has total proven and probable reserves of approximately 3.04 million ounces of gold.
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