With the AUD remaining low, buying below 68 US cents, the gold price in AUD terms is at record all-time highs.
Gold hit US$1,456 per ounce at around 1.00pm, which is A$2,150 per ounce using the current FX rate.
Other strong gold names today included Evolution (ASX:EVN), Gold Road Resources Ltd (ASX:GOR), Medusa Mining (ASX:MML), Millennium Minerals (ASX:MOY), Pantoro Ltd (ASX:PNR) and Resolute Mining (ASX:RSG) to name a few.
Three major brokers - Citi Research, Canaccord Genuity and Hartleys, recently all upgraded their target prices for Perseus.
The average of the target prices from these brokers is 93 cents per share, which suggests there may be more upside to come.
Perseus produced 271,824 ounces of gold at US$960 per ounce during the 2019 financial year.
The company also has secured funding to develop its third gold mine, Yaouré in Cote d’Ivoire.
The further the gold price continues to rise, the higher the margins Perseus produces at.