Semafo Inc. (SMF) Given Outperform Rating at Scotiabank

Scotiabank reiterated their outperform rating on shares of Semafo Inc. (TSE:SMF) in a report released on Friday morning. Scotiabank currently has a C$5.25 target price on the mining company’s stock.

SMF has been the topic of several other reports. CIBC downgraded shares of Semafo from an outperform rating to a neutral rating and cut their target price for the stock from C$6.00 to C$4.50 in a research note on Tuesday, April 25th. TD Securities cut their target price on shares of Semafo from C$7.00 to C$5.50 and set a buy rating on the stock in a research note on Tuesday, April 25th. Clarus Securities downgraded shares of Semafo from a buy rating to a hold rating in a research note on Tuesday, April 25th. Raymond James Financial, Inc. cut their target price on shares of Semafo from C$5.50 to C$4.80 and set an outperform rating on the stock in a research note on Tuesday, April 25th. Finally, Royal Bank of Canada cut their target price on shares of Semafo from C$6.00 to C$5.00 and set a sector perform rating on the stock in a research note on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Semafo has an average rating of Buy and a consensus target price of C$5.60.

Semafo (SMF) traded up 1.72% during trading on Friday, hitting $2.95. 2,205,686 shares of the stock were exchanged. Semafo has a 12 month low of $2.68 and a 12 month high of $7.46. The stock’s 50 day moving average price is $2.97 and its 200 day moving average price is $3.89. The stock has a market cap of $958.38 million and a P/E ratio of 61.46.

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In related news, Director Benoit Desormeaux bought 10,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average price of C$2.94 per share, for a total transaction of C$29,400.00. In the last 90 days, insiders bought 30,000 shares of company stock valued at $89,950.

About Semafo

SEMAFO Inc is a Canada-based mining company. The Company’s segments include Mana, Burkina Faso; Natougou, Burkina Faso, and Other exploration. The Company, through its subsidiaries, is engaged in gold mining activities, including exploration, development and operations. Its properties include Mana project, which is located in Burkina Faso that includes the satellite Siou and Fofina deposits; Natougou advanced gold deposit, which is located approximately 320 kilometers east of Ouagadougou, and consists of a drill database of over 170 diamond, 625 multi-purpose (reverse-circulation (RC) pre-collar and core tail) and 550 RC drill holes; Banfora project, which is located approximately 200 kilometers south west of Mana, and Nabanga project, which is located approximately 250 kilometers south-east of Ouagadougou.

Analyst Recommendations for Semafo (TSE:SMF)

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