SEMAFO (TSE:SMF) Rated “Sector Outperform” by Scotia Capital (TSE:BNS)

Scotia Capital Rates SEMAFO “Sector Outperform”

Scotia Capital (TSE:BNS) rated SEMAFO (TSE:SMF) as “Sector Outperform” as they initiated coverage of the company.

The target price was from C$6.00, 17 percent over the recent close of C$5.13, which has since went up.

Scotia's report said this was because of the strong presence of SEMAFO in West Africa, where they has a strong foundational asset in the Mana project.

They consider Mana a strong opportunity for growth, whereby SEMAFO will benefit from for some time to come.

Scotia Capital Rates SEMAFO “Sector Outperform”