One of the Lowest All-In-Sustaining-Cost Producers [Cheap]Teranga Gold Corp has a consensus rating of Hold and an average price target of C$1.11.
Expert Comments:
Dan Hrushewsky, Jennings Capital (10/1/13) "A special meeting of Oromin Explorations shareholders will take place in order to consider the Plan of Arrangement, under the British Columbia Business Corporations Act, whereby Teranga Gold Corp. proposes to acquire the remaining untendered Oromin shares from minority shareholders at the 0.6 TGZ/OLE exchange ratio as per the originally announced July 22, 2013, offer. . .the result of the Oromin special shareholder votes is predetermined. . .and the acquisition of 100% of Oromin will be completed. . .we believe that a deal with the 56.5% JV partners (toll milling or an outright purchase) would result in a rerating of the stock."
Cosmos Chiu, CIBC World Markets (9/23/13) "Teranga Gold Corp. provided a revised mine plan for its Sabodala operation, focused on generating free cash flow. . .the plan contemplates a more gradual move to throughput of 4 Mtpa and higher grades in the near term. . .development of Gora has been resequenced to late 2014, with initial production beginning early 2015. . .we believe the revised mine plan provides a basis on which to grow the company."
Dan Hrushewsky, Jennings Capital (9/20/13) "Teranga Gold Corp. announced a new standalone mine plan, which was designed to satisfy Macquarie Bank's loan and lease financial covenant waiver requirements. . .Teranga's standalone mine plan maximizes near-term cash flow over the 2014–2016 period by minimizing operating, sustaining, project development and other costs. The mine plan includes a revised Sabodala pit design allowing earlier access to higher grade material and reduced waste stripping, at the expense of 214,000 oz of reserves to 1.40 Moz (a 13% reduction from the March 31, 2013, reserve statement); the mine plan schedules production from the Gora pit to occur in 2015, utilizing mobile equipment from Sabodala."
Dan Hrushewsky, Jennings Capital (9/12/13) "Our estimate of Teranga Gold Corp.'s mine plan, combining the Sabodala mine and the Oromin acquisition, has the third highest average grade in its peer group of West African producers, and the highest from an exclusively open-pit mining operation. . .Teranga's total cash costs were the lowest of its peer group in 2012 ($627/oz), and for the first two quarters of 2013 (Q1: $535/oz, Q2: $642/oz), largely due to the high grades processed (3.08 g/t, 3.31 g/t, 2.36 g/t, respectively) and the lower costs associated with open-pit mining. . .we are initiating coverage on Teranga with a Buy recommendation."
GMP Securities upgraded shares of Teranga Gold Corp (TSE:TGZ) from a hold rating to a buy rating in a research note released on Friday morning,
Analyst Ratings.Net reports. A number of other analysts have also recently weighed in on TGZ.
Analysts at
Jennings Capital initiated coverage on shares of Teranga Gold Corp (TSE:TGZ) in a research note to investors on Friday, September 13th. They set a buy rating and a C$1.50 price target on the stock.
Separately, analysts at
Societe Generale cut their price target on shares of Teranga Gold Corp (TSE:TGZ) from C$0.85 to C$0.75 in a research note to investors on Monday, September 9th. They now have a hold rating on the stock.
Finally, analysts at
Socgen cut their price target on shares of Teranga Gold Corp (TSE:TGZ) from C$0.85 to C$0.75 in a research note to investors on Monday, September 9th. They now have a hold rating on the stock.
Teranga Gold Corp (TSE:TGZ) had its price target raised by
CIBC from C$0.80 to C$0.90. CIBC currently has a sector perform rating on the stock.
One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock.