Guyana Goldfields (GUY) Trading Down 2.5% on Analyst Downgrade
Guyana Goldfields Inc. (TSE:GUY) was down 2.5% on Tuesday after Royal Bank Of Canada lowered their price target on the stock from C$8.00 to C$7.00. Royal Bank Of Canada currently has an outperform rating on the stock. Guyana Goldfields traded as low as C$4.61 and last traded at C$4.64. Approximately 195,063 shares were traded during trading, a decline of 77% from the average daily volume of 862,901 shares. The stock had previously closed at C$4.76.
Several other brokerages also recently weighed in on GUY. BMO Capital Markets upped their target price on shares of Guyana Goldfields from C$7.50 to C$8.00 in a research note on Monday, October 2nd. TD Securities cut their target price on shares of Guyana Goldfields from C$8.50 to C$6.50 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Scotiabank dropped their price objective on shares of Guyana Goldfields from C$9.00 to C$7.50 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Finally, Clarus Securities raised shares of Guyana Goldfields from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Five investment analysts have rated the stock with a buy rating, Guyana Goldfields has an average rating of “Buy” and a consensus target price of C$7.38.
In other news, insider Baupost Group L.L.C. The acquired 100,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were bought at an average cost of C$4.07 per share, with a total value of C$407,000.00. Also, Director Scott Andrew Caldwell acquired 15,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was purchased at an average cost of C$4.10 per share, for a total transaction of C$61,500.00. Over the last three months, insiders acquired 677,300 shares of company stock worth $2,770,200.
Guyana Goldfields Company Profile
Guyana Goldfields Inc (Guyana Goldfields) is a Canada-based mineral development and exploration company primarily focused on the acquisition, exploration and development of gold deposits in Guyana, South America. The Company’s Aurora Gold Mine is an operating gold mine project, which is located in Guyana.
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