Banro (NYSE:BAA)‘s stock had its “in-line” rating reaffirmed by equities researchers at BMO Capital Markets in a research report issued on Wednesday, American Banking & Market News reports.
The analysts wrote, “Banro reported Q3/13 EPS of US$0.00 after adjusting for a US$3.2M charge related to the fair value of preferred shares, in line with the BMO Research estimate and slightly ahead of consensus of (US$0.01). Sales of 20,410oz were consistent with production of 20,784oz which had previously been released. Total cash costs of US$821/oz and all-in costs of US$1,059/oz compared to BMO Research forecasts of US$809/oz and US$1,169/oz respectively, as slightly higher unit costs (US$64.10/t versus US$63.15/t) were offset by lower sustaining capital (US$5.0M versus US$5.7M). Namoya capital expenditures of US$30.2M were in line with the BMO Research forecast of US$30.0M. Cash at quarter-end was higher than expected (US$14.8M versus US$9.5M) with earlier access to bank loans announced in October and working capital changes partially offset by higher interest and exploration expenses.”
Separately, analysts at CIBC cut their price target on shares of Banro to $0.80 in a research note to investors on Friday, October 11th. They now have a “sector perform” rating on the stock.
Shares of Banro (NYSE:BAA) traded up 2.65% on Wednesday, hitting $0.76. The stock had a trading volume of 68,066 shares. Banro has a 52-week low of $0.56 and a 52-week high of $4.26. The stock has a 50-day moving average of $0.72 and a 200-day moving average of $0.86. The company has a market cap of $191.6 million and a price-to-earnings ratio of 24.68.
Banro (NYSE:BAA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.02) by $0.01. On average, analysts predict that Banro will post $0.03 earnings per share for the current fiscal year.
Banro Corporation (NYSE:BAA) is a Canada-based gold exploration company.
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