The stock of Detour Gold Corporation (TSE:DGC) gapped up by $0.05 today and has $17.48 target or 5.00% above today’s $16.65 share price. The 7 months technical chart setup indicates low risk for the $2.89 billion company. The gap was reported on Nov, 25 by Barchart.com. If the $17.48 price target is reached, the company will be worth $144.50 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 431,134 shares traded hands. Detour Gold Corporation (TSE:DGC) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
Detour Gold Corporation (TSE:DGC) Ratings Coverage
Out of 12 analysts covering Detour Gold Corporation (TSE:DGC), 8 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 67% are positive. Detour Gold Corporation has been the topic of 35 analyst reports since August 4, 2015 according to StockzIntelligence Inc. IBC downgraded it to “Sector Perform” rating and $26 target price in Thursday, November 3 report. National Bank Canada maintained the stock with “Outperform” rating in Monday, June 27 report. The stock of Detour Gold Corporation (TSE:DGC) has “Negative” rating given on Wednesday, November 2 by Credit Suisse. The stock has “Buy” rating given by TD Securities on Friday, July 29. Desjardins Securities maintained it with “Buy” rating and $36.50 target price in Friday, July 29 report. RBC Capital Markets maintained Detour Gold Corporation (TSE:DGC) on Monday, August 10 with “Outperform” rating. Scotia Capital maintained the shares of DGC in a report on Wednesday, June 8 with “Outperform” rating. The stock of Detour Gold Corporation (TSE:DGC) has “Hold” rating given on Thursday, November 3 by GMP Securities. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, November 2. National Bank Canada maintained Detour Gold Corporation (TSE:DGC) on Friday, November 27 with “Outperform” rating.
More notable recent Detour Gold Corporation (TSE:DGC) news were published by: Business.Financialpost.com which released: “Detour Gold Corp plunges, downgraded because of ‘uncertainty’ and …” on November 02, 2016, also Fool.ca with their article: “Why Detour Gold Corporation Is Different From Other Gold Miners” published on November 02, 2015, Business.Financialpost.com published: “Fed hesitation drives S&P/TSX Composite index, Detour Gold Corp higher” on March 17, 2016. More interesting news about Detour Gold Corporation (TSE:DGC) were released by: Business.Financialpost.com and their article: “Goldcorp, Centerra, Detour Gold and Fortuna Silver upgraded to buy” published on October 24, 2016 as well as Midasletter.com‘s news article titled: “S&P/TSX Composite index Gainers: Amaya Inc., Detour Gold Corp., Goldcorp” with publication date: February 01, 2016.
Detour Gold Corporation is a Canada intermediate gold producing company. The company has a market cap of $2.89 billion. The Firm is engaged in the acquisition, exploration, development and operation of mineral property interests. It currently has negative earnings. The Company’s primary asset is its Detour Lake mine, which is an open pit operation located in northeastern Ontario, approximately 300 kilometers northeast of Timmins and over 180 kilometers by road northeast of Cochrane.
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