In a latest note to investors, a research analyst has provided a rating update for the NA sector company, Ascendant Resources Inc (TSX: ASND). H.C. Wainwright’s analyst Heiko Ihle reiterates their Buy rating on the shares today.
Ihle wrote:
“We maintain our Buy rating and our C$2.40 per share price target. Our valuation remains based on a DCF of El Mochito, utilizing a 9% discount rate, which we feel is justified due to the mine’s long operating history, incremental exploration potential, and management’s commitment to investing capital into the mine.”
According to TipRanks.com, Ihle has 0 stars on 0-5 star ranking scale with an average return of -3.4% and a 34.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ascendant Resources Inc with a C$1.75 average price target, representing a 136.5% upside. In a report issued on October 10, Canaccord Genuity also reiterated a Buy rating on the stock with a C$1.10 price target.
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The company has a one-year high of C$1.23 and a one-year low of C$0.50. Currently, Ascendant Resources Inc has an average volume of 83.38K.
Ascendant Resources, Inc. engages in the exploration of mineral properties. It focuses on producing zinc-lead-silver El Mochito mine property in Honduras. The company was founded by Mark Peter Brennan, Cliff Hale-Sanders, Thomas J. Loch, and Stephen M. Shefsky on May 1, 2006 and is headquartered in Toronto, Canada.
The company’s shares closed on Wednesday at C$0.74.
