Continental Gold (TSE:CNL) Downgraded to “Tender” at TD Securities

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TD Securities lowered shares of Continental Gold (TSE:CNL) from a speculative buy rating to a tender rating in a research note issued to investors on Tuesday morning, BayStreet.CA reports. The firm currently has C$5.50 price objective on the stock, down from their previous price objective of C$7.00.

Separately, BMO Capital Markets upped their price objective on Continental Gold from C$6.75 to C$8.50 in a research note on Wednesday, September 11th.

TSE:CNL opened at C$5.33 on Tuesday. The company has a market capitalization of $1.08 billion and a price-to-earnings ratio of -21.07. Continental Gold has a one year low of C$1.76 and a one year high of C$5.40. The stock has a 50-day simple moving average of C$4.22 and a 200 day simple moving average of C$3.84. The company has a debt-to-equity ratio of 248.61, a quick ratio of 1.18 and a current ratio of 1.47.

About Continental Gold

Continental Gold Inc, together with its subsidiaries, engages in the acquisition, exploration, evaluation, and development of gold resource properties in Colombia. The company holds the rights to develop and explore 1 advanced-stage gold project, as well as explore 3 early-stage projects in Colombia covering an area of approximately 76,565 hectares.

Further Reading: Neutral Rating

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