Roth Capital Sees Upside In Paramount Gold And Silver Following FY2014 Results
In a research report issued yesterday, Roth Capital analyst Joe Reagor maintained a Buy rating on Paramount Gold And Silver (NYSE:PZG) with a price target of $1.45, on the heels of the news that PZG filed its 10-K for its 2014 fiscal year.
Reagor noted, “Given the recent pull back in gold and silver prices the mining M&A market could heat up, in our view. On September 8, 2014 Agnico Eagle Mines (NC-AEM) announced the acquisition of Cayden Resources (NC- TSX-V:CYO). Given our view of PZG as a potential takeout candidate, we believe this announcement by AEM is positive and could be the beginning of another surge in M&A.” Reagor continued, “We made no significant changes to our modeling of PZG following its filing of its 10-K other than an increased share count and cash balance compared to previous estimates. We continue to view PZG as a takeout candidate.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joe Reagor has a total average return of 3.5% and a 45.5% success rate. Reagor has a -17.5% average return when recommending PZG, and is ranked #1602 out of 3277 analysts.