GT Gold Corp (GTT) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of GT Gold Corp (NYSE:GTT) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “GTT Communications, Inc. offers cloud networking; high bandwidth IP transit for content delivery and hosting as well as network-to-network carrier interconnects solutions and data connectivity solutions. The company’s network consists of a layer 2 switched Ethernet and IP transit or dedicated internet access. It operates primarily in North America, Europe and Asia. GTT Communications, Inc., formerly known as Global Telecom & Technology, Inc., is headquartered in McLean, Virginia. “
Other equities analysts have also recently issued reports about the stock. Cowen and Company set a $43.00 target price on shares of GT Gold Corp and gave the company a buy rating in a report on Friday, August 4th. BidaskClub cut shares of GT Gold Corp from a sell rating to a strong sell rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of C$36.20.
Shares of GT Gold Corp (GTT) traded up C$0.50 during trading on Friday, hitting C$37.40. 277,522 shares of the stock were exchanged, compared to its average volume of 404,719. GT Gold Corp has a fifty-two week low of C$22.70 and a fifty-two week high of C$37.50.
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In other GT Gold Corp news, insider Mcmullen Family Trust sold 40,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of C$1.46, for a total value of C$58,400.00. Also, General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of C$31.35, for a total transaction of C$219,450.00. Following the completion of the transaction, the general counsel now directly owns 410,801 shares in the company, valued at C$12,878,611.35. The disclosure for this sale can be found here. Over the last three months, insiders acquired 33,100 shares of company stock worth $49,569 and sold 255,800 shares worth $2,103,479.
A number of institutional investors and hedge funds have recently made changes to their positions in GTT. BNP Paribas Arbitrage SA increased its stake in GT Gold Corp by 2,153.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the company’s stock valued at $109,000 after buying an additional 3,295 shares during the period. Airain ltd acquired a new position in GT Gold Corp in the 2nd quarter valued at $216,000. Legal & General Group Plc increased its stake in GT Gold Corp by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 7,353 shares of the company’s stock valued at $234,000 after buying an additional 907 shares during the period. JPMorgan Chase & Co. increased its stake in GT Gold Corp by 52.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,950 shares of the company’s stock valued at $250,000 after buying an additional 2,726 shares during the period. Finally, Laurion Capital Management LP acquired a new position in GT Gold Corp in the 2nd quarter valued at $266,000.
GT Gold Corp Company Profile
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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