Alacer Gold Corp.

Published : October 07th, 2015

2 Metals Stocks BMO Analysts Are Downgrading

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Keywords :   Capital Markets | Gold | Gold Mine | Market |

2 Metals Stocks BMO Analysts Are Downgrading

  • On Tuesday, BMO Capital Markets analysts Brian Quast and Ryan Thompson downgraded DETOUR GOLD CORP (OTC: DRGDF) (TSE: DGC) from Outperform to Market Perform.
  • In a separate report, the experts also downgraded ALACER GOLD CORP (OTC: ALIAF) (TSE: ASR) from Market Perform to Underperform.
  • Shares of both companies are down more than 3.4 percent on Wednesday trading.
  • In a recent report, analysts at BMO introduced a few changes to their main input assumptions. Among these modifications was the lowering of their long-term gold price forecast to $1,200/oz, from a previous $1,250/oz.

    As a result, many target prices for gold equities were trimmed. However, posterior changes in foreign exchange assumptions (especially for the Turkish Lira) “have offset the change in the gold price estimate to some degree,” the note explained.

    Detour Gold

    Despite the changes in estimates, the target price for Detour Gold remained unchanged at C$16.00, since changes in the firm’s forecast for C$ exchange rate almost fully offset the reduction of the long-term gold price.

    Related Link: You Might Be Crazy To Buy This ETF, Or It Might Really Work

    The analysts noted that the company “has had an exceptional run this year, spurred by notable operation improvements as well as cleaning up the balance sheet.”

    BMO still thinks Detour Gold is one of the best ways to play the falling C$. Nonetheless, at current valuations, the stock does not look compelling enough for the firm to continue to rate the stock an Outperform.

    Key catalysts include the release of third-quarter production results, but more significantly, “a revised LOM plan for Detour Lake is expected in early 2016, and this will incorporate several value-enhancing projects, such as Block A and the segregation of fines project, amongst others.”

    Alacer Gold

    On the other hand, the changes in estimates led Quast and Thompson to raise the target price for Alacer Gold to C$3.00 from C$2.75, mainly on the back of the new Turkish Lira exchange rate assumptions.

    The shares have proven resilient over the year, mainly driven by “solid operational performance,” the experts assured. The firm still sees Alacer as a “strong operator,” but, once again, the current valuation doesn’t make the stock attractive enough to maintain a Market Perform rating.

    The report continued to expound, “The Çöpler Gold Mine, at least for the oxides is a high-grade, low-cost heap leach mine, albeit for a relatively short amount of time. The sulphide project, which has experienced stellar resource reconciliation to date in terms of sulphide feed will also be a relatively low-cost operation starting in the next few years.

    “That being said, ASR garners one of our highest single asset multiples for a project that is yet to be proven and has some technological complexity.” This last point was crucial in the decision to downgrade the stock despite having increased the price target.

    Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

    Image Credit: Public Domain

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    Alacer Gold Corp.

    PRODUCER
    CODE : ASR.TO
    ISIN : CA0329001022
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    Alacer Gold is a gold producing company based in United states of america.

    Alacer Gold produces gold, copper and silver in Australia and in Turkey, and holds various exploration projects in Australia and in Turkey.

    Its main assets in production are HIGGINSVILLE - CHALICE, SOUTH KALGOORLIE GOLD MINE, HIGGINSVILLE - TRIDENT, HIGGINSVILLE - FAIRPLAY, HIGGINSVILLE - PALAEOCHANNELS and TRIDENT GOLD MINE in Australia and ÇÖPLER GOLD PROJECT in Turkey and its main exploration properties are KARAGOZ, BURSA EAST, TORUL, BAYBURT, IKIZTEPE - SARP, KEN-FOL, ARTVIN, KARAKARTAL, CEVIZLIDERE and YENIPAZAR in Turkey, MT FISHER in Canada and REDHILL, MT ZEPHYR and MUNGARI in Australia.

    Alacer Gold is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.9 millions as of today (US$ 5.5 millions, € 3.8 millions).

    Its stock quote reached its lowest recent point on September 14, 2009 at CA$ 0.02, and its highest recent level on October 21, 2011 at CA$ 9.99.

    Alacer Gold has 292 850 016 shares outstanding.

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    Annual reports of Alacer Gold Corp.
    2007 Annual report
    Financings of Alacer Gold Corp.
    5/22/2011ANNOUNCES AMENDMENT TO PROPOSED RESTRICTED STOCK UNIT PLANS
    Nominations of Alacer Gold Corp.
    9/15/2014announces the appointment of two new independent directors t...
    6/30/2014announces changes to its Board of Directors
    9/10/2013Announces changes to the Board of Directors
    10/2/2011Chief Strategic Officer Rohan Williams steps down
    8/11/2011Chief Financial Officer To Depart
    4/21/2011TurkPower Corporation Appoints James Davidson to Its Board o...
    2/20/2008Appoints Edward C. Dowling Jr. as New President and Chief Ex...
    Financials of Alacer Gold Corp.
    7/27/2015Announces Second Quarter 2015 Operating and Financial Result...
    4/28/2014announces 2014 first quarter results
    3/13/2013announces 2012 year-end financial results
    11/1/2012Announces Third Quarter 2012 Financial Statements and Relate...
    5/12/2011FILES FIRST QUARTER FINANCIAL RESULTS AND THE RELATED MANAGE...
    5/6/2011ANNOUNCES 2011 FIRST QUARTER FINANCIAL RESULTS RELEASE DATE ...
    4/29/2011ANNOUNCES FIRST QUARTER OPERATING RESULTS
    Project news of Alacer Gold Corp.
    12/5/2013announces a further 10% increase in 2013 production guidance...
    9/23/2013announces a 15% increase in 2013 production guidance at Çöpl...
    1/17/2013achieves strongest quarterly production of the year of 103,4...
    10/23/2012announces attributable gold production of 90,951 ounces for ...
    6/1/2011(Çöpler Gold Project)ANNOUNCES SIGNFICANT EXTENSION TO SULFIDE MINERALIZATION AT ...
    4/11/2011(Çöpler Gold Project)ACHIEVES COMMERCIAL PRODUCTION AT ITS ÇÖPLER MINE
    3/29/2011(Çöpler Gold Project)REPORTS POSITIVE SULFIDE PREFEASIBILITY STUDY AND INCREASES ...
    9/23/2008(Çöpler Gold Project)Commences Çöpler Gold Mine Construction
    8/25/2008(Çöpler Gold Project)MANDATES LEAD ARRANGER FOR SENIOR PROJECT FINANCING
    8/19/2008(Çöpler Gold Project)RECEIVES ÇÖPLER FORESTRY PERMIT
    8/11/2008(Çöpler Gold Project)PROVIDES ÇÖPLER GOLD PROJECT UPDATE
    5/20/2008(Çöpler Gold Project)OUTLINES STRATEGY FOR ÇÖPLER MINE DEVELOPMENT
    4/16/2008(Çöpler Gold Project)Approved for Anatolia's Copler Gold Project
    2/25/2008(Çöpler Gold Project)PROVIDES ÇÖPLER GOLD PROJECT UPDATE
    2/6/2008(Çöpler Gold Project)FILES SULFIDE SCOPING STUDY FOR 2.3 MILLION OUNCES AT ÇÖPLER...
    12/21/2007 POSITIVE SCOPING STUDY FOR 2.3 MILLION OUNCES OF ÇÖPLER GOL...
    5/30/2006(Çöpler Gold Project)2006 Technical report
    Corporate news of Alacer Gold Corp.
    7/24/2016Alacer Gold Announces Second Quarter 2016 Operating & Financ...
    7/17/2016Alacer Gold Comments on Recent Events in Turkey
    7/13/2016AGM Vote Results 2016
    7/7/20162016 07 07 Q2 Earnings Conference Call Details
    7/7/2016Alacer Gold Announces Release Date for Second Quarter 2016 O...
    6/24/2016Alacer Gold Continues to De-Risk Sulfide Project with Execut...
    6/17/2016Alacer Gold Signs $350 Million Project Finance Facility
    6/2/2016Alacer Gold Announces Appointment of Chief Operating Officer
    5/27/2016Voting Results
    5/26/2016Alacer Gold Announces Results of Annual and Special Meeting ...
    5/12/20162016 12 05 Q1 2016 Earnings Release FINAL
    5/12/2016Alacer Gold Announces First Quarter 2016 Operating & Financi...
    5/12/2016Alacer Gold Announces Çöpler Sulfide Project Approval
    5/5/20162016 05 05 Q1 Earnings Conference Call Details FINAL
    5/5/2016Alacer Gold Announces Release Date for Çöpler Sulfide Projec...
    4/20/2016Alacer Gold Receives Approval of Numerous Land Use Permits f...
    4/20/20162016 04 20 Receipt of Final LUP - FINAL2
    3/31/2016Alacer Gold Announces Further Exploration Results for The Çö...
    3/31/2016Appendix to Exploration Announcement
    3/30/2016Appendix to Exploration Announcement
    1/25/2016Alacer Gold Announces 2015 Year-end Operating & Financial Re...
    1/25/2016Alacer Gold announces 2015 year-end operating and financial ...
    1/15/2016Alacer Gold Meets 2015 Production Guidance, Provides 2016 Gu...
    1/14/2016Alacer Gold Meets 2015 Production Guidance, Provides 2016 Gu...
    10/25/2015Alacer Gold Announces Third Quarter 2015 Operating and Finan...
    10/9/2015Alacer Gold Announces Third Quarter 2015 Operating & Financi...
    10/9/2015Alacer Gold announces third quarter 2015 operating & financi...
    10/7/20152 Metals Stocks BMO Analysts Are Downgrading
    9/21/2015Alacer Gold Signs $250 Million Project Finance Facility
    8/20/2015Alacer Gold Announces Its One Millionth Ounce of Gold Poured...
    7/29/2015Edited Transcript of ASR.TO earnings conference call or pres...
    7/27/2015Alacer Gold Announces Second Quarter 2015 Operating & Financ...
    7/27/2015Alacer Gold Announces Second Quarter 2015 Operating and Fina...
    7/14/2015Alacer Gold Announces Second Quarter Operating & Financial R...
    7/14/2015Alacer Gold Announces Second Quarter 2015 Operating & Financ...
    7/14/2015Announces Second Quarter 2015 Operating & Financial Results ...
    7/9/2015Alacer Gold Announces Results of Annual and Special Meeting ...
    7/9/2015Announces Results of Annual and Special Meeting of Sharehold...
    4/9/2015Alacer Gold Announces Release Date for First Quarter 2015 Fi...
    4/9/2015Announces Release Date for First Quarter 2015 Financial Resu...
    4/9/2015Alacer Gold's Board Approves Advancement of Çöpler Sulfide P...
    3/30/2015Appendix 1 - JORC Code Table 1
    3/30/2015Alacer Gold Increases its Life-of-Mine Gold Production Profi...
    2/11/2015Alacer Gold Announces 2014 Year-end Operating & Financial Re...
    2/11/2015Alacer Gold Announces 2014 Year-end Operating & Financial Re...
    2/2/2015Alacer Gold announces 2014 year-end operating & financial re...
    1/20/2015Alacer Exceeds 2014 Production Guidance and Provides 2015 Gu...
    1/20/2015Alacer exceeds 2014 production guidance and provides 2015 gu...
    1/12/2015Alacer Gold Announces Çöpler Sulfide Project Development Tea...
    1/12/2015Alacer Gold Announces Çöpler Sulfide Project Development Tea...
    12/28/2014Alacer Gold Receives Approval of the Environmental Impact As...
    12/28/2014Alacer Gold receives approval of the Environmental Impact As...
    12/18/2014Alacer Gold Increases Heap Leach Pad Capacity by 14% at Çöpl...
    12/18/2014Alacer Gold increases heap leach pad capacity by 14% at its ...
    12/15/2014Alacer Gold Commissions Chemical Facility with SART Plant Se...
    12/15/2014Alacer Gold Commissions Chemical Facility with SART Plant - ...
    12/15/2014Alacer Gold Commissions Chemical Facility with Sart Plant
    12/15/2014Commissions Chemical Facility with Sart Plant
    10/27/2014Alacer Gold Reports 27% Increase In Gold Production At Lower...
    10/27/2014Reports 27% Increase in Gold Production at Lower Costs for T...
    10/14/2014Alacer Gold announces release date for third quarter 2014 fi...
    9/18/2014Alacer Responds to Market Activity
    7/29/2014announces results for second quarter 2014 and files NI 43-10...
    7/14/2014Announces Release Date for Second Quarter 2014 Financial Res...
    6/12/2014announces conference call on The Çöpler Sulfide Project Defi...
    4/15/2014announces release date for first quarter 2014 financial resu...
    3/12/2014announces 2013 year-end financial results and declares annua...
    2/24/2014announces results of exploration in Turkey
    1/27/2014announces President Howard Stevenson to resign
    11/4/2013to pursue POX as sulfide ore processing method
    10/24/2013Announces Approval of Australian Business Unit Sale
    10/16/2013announces release date for third quarter 2013 financial resu...
    8/12/2013announces leadership changes and update on Australian asset ...
    7/22/2013announces release date for second quarter 2013 financial res...
    6/12/2013announces decision to pursue sale of Australian assets
    4/2/2013announces December 2012 Resources and Reserves statement
    3/26/2013Significant Results from Alacer's Australian Exploration Pro...
    2/10/2013announces completion of major strategic review
    11/13/2012announces updated North American conference call time and di...
    11/13/2012announces updated North American conference call time and di...
    9/10/2012Çöpler Resource estimate increases by 27% or 2.2 million oun...
    8/22/2011Extends Çöpler Mineralization Including 100.1m @ 4.1g/t in ...
    7/4/2011RECEIVES ASX LISTING RULE WAIVERS
    2/20/2011Anatolia and Avoca Resources complete merger to become Alace...
    7/25/2008MR. RICHARD GRAFF NAMED TO ANATOLIA BOARD
    5/9/2008ANNOUNCES PRESENTATION BY EDWARD C. DOWLING, PRESIDENT AND C...
    12/20/2007CEO, Richard C, Moores, II, announces resignation for person...
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    TORONTO (ASR.TO)AUSTRALIA (AQG.AX)
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