June 17, 2019 / 4:25 PM / 4 months ago

BUZZ-Alacer Gold: RBC raises PT on sulphides project ramp up, shares rise

** Shares of Alacer Gold Corp up ~8% at C$4.3, trading at their highest level in over 6 years

** RBC Capital Markets raises PT to C$5.50 from C$4

** Brokerage says PT raised on stronger near-term forecasts for sulphides and oxides production, as well as assumed mine-life upside at the oxide plant

** Management has done a commendable job delivering on expectations to date and mitigating risks during the rampup - RBC

** Brokerage says strong FCF positions Alacer to internally delever its balance sheet through 2019 and consider returning capital to shareholders in 2020

** Ongoing operational outperformance of the oxides and potential mine life extension has been largely overlooked by investors - RBC

** 5 of 8 brokerages rate the stock “buy”, 2 “hold” and 1 “sell”; their median PT is C$4.55

** Including Monday’s gains, stock up 71.8% this year (Reporting By Arundhati Sarkar in Bengaluru)

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