Estimates for Guyana Goldfields Inc. lowered by Clarus Securities

Last Updated on Saturday, 23 January 2016, 11:23 by Denis Chabrol

Investment analysts at Clarus Securities reduced their FY2016 earnings estimates for shares of Guyana Goldfields in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research.

Clarus Securities analyst J. Spratt now expects that the firm will post earnings of $0.26 per share for the year, down from their previous estimate of $0.31.

Several other research analysts have also weighed in on GUY. TD Securities lowered Guyana Goldfields from a “speculative buy” rating to a “hold” rating and set a C$5.50 target price on the stock. in a research report on Wednesday, September 23rd. Raymond James upped their target price on Guyana Goldfields from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, October 16th. RBC Capital reaffirmed an “outperform” rating and issued a C$5.00 target price on shares of Guyana Goldfields in a research report on Thursday, October 22nd. Scotiabank dropped their target price on Guyana Goldfields from C$5.25 to C$4.50 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. Finally, BMO Capital Markets raised Guyana Goldfields from a “speculative outperform” rating to an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$4.70.

Guyana Goldfields (TSE:GUY) traded down 1.19% during midday trading on Wednesday, reaching $3.31. The company’s stock had a trading volume of 254,292 shares. Guyana Goldfields has a 52 week low of $2.48 and a 52 week high of $4.48. The stock has a 50 day moving average of $3.24 and a 200 day moving average of $3.53. The firm’s market capitalization is $504.49 million.

In related news, Director Michael Richings purchased 10,000 shares of the firm’s stock in a transaction dated Monday, November 23rd. The stock was bought at an average price of C$2.53 per share, for a total transaction of C$25,300.00. Also, Director Scott Andrew Caldwell purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 18th. The shares were bought at an average price of C$2.00 per share, with a total value of C$30,000.00.

Guyana Goldfields Inc. (TSE:GUY) is a Canada-based mineral exploration company primarily focused on the exploration and development of gold deposits in the Guyana, South America. The Company has one advanced development stage project, the Aurora project, located in Guyana. The Company owns a 100% interest in the Aurora Project. The Aurora Project has total proven and probable reserves of approximately 3.48 million ounces of gold. Guyana Goldfields also holds approximately contiguous 102,220 acre land package located in the Aranka district of Guyana, which is approximately near the northeast of the Aurora Project, known as the Aranka Properties, and consists of a number of separate properties including Sulphur Rose. The Company’s wholly owned subsidiary is AGM Inc.