The stock of Semafo Inc. (TSE:SMF) gapped down by $0.09 today and has $3.65 target or 7.00% below today’s $3.93 share price. The 8 months technical chart setup indicates high risk for the $1.25B company. The gap down was reported on Nov, 23 by Barchart.com. If the $3.65 price target is reached, the company will be worth $87.50M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 1.02M shares traded hands. Semafo Inc. (TSE:SMF) has declined 14.29% since April 19, 2016 and is downtrending. It has underperformed by 19.61% the S&P500.
Semafo Inc. (TSE:SMF) Ratings Coverage
Out of 3 analysts covering Semafo Inc. (TSE:SMF), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $7.50 is the highest target while $4 is the lowest. The $6.13 average target is 55.98% above today’s ($3.93) stock price. Semafo Inc. has been the topic of 17 analyst reports since August 6, 2015 according to StockzIntelligence Inc. TD Securities maintained the shares of SMF in a report on Friday, August 12 with “Hold” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Monday, August 24. As per Friday, August 12, the company rating was maintained by Scotia Capital. The firm earned “Outperform” rating on Tuesday, October 25 by Scotia Capital. Scotia Capital downgraded the stock to “Sector Perform” rating in Thursday, September 17 report.
Another recent and important Semafo Inc. (TSE:SMF) news was published by Bloomberg.com which published an article titled: “TSX Movers: Endeavour Silver, SEMAFO Inc, Eldorado Gold” on September 14, 2016.
SEMAFO Inc. is a Canada-based mining company. The company has a market cap of $1.25 billion. The Company’s divisions include Mana, Burkina Faso; Natougou, Burkina Faso, and Other exploration. It has a 22.96 P/E ratio. The Company, through its subsidiaries, is engaged in gold mining activities, including exploration, development and operations.
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