Teranga Gold Corporation T.TGZ

RE:RE:RBC Raises Target to $8.50

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Analyst Actions: RBC Capital Raises Teranga Gold TP to $8.50, Maintains Outperform Rating After Massawa Buy 2019-12-12 01:54:19 PM ET (MT Newswires)

01:54 PM EST, 12/12/2019 (MT Newswires) -- RBC Capital has reiterated its Outperform rating on Teranga Gold and raised its one year price target by $0.50, to $8.50 after the company announced its acquisition of Massawa Gold Project. RBC says it believes the acquisition is "transformational for Teranga in doubling the long-term reserve base at higher grades while extending the mine life, translating into a significant uplift in production and improvement in costs by 2021." Price: 6.21, Change: -0.03, Percent Change: -0.48