Today, an analyst has provided a rating update for the NA sector company, Ascendant Resources Inc (TSX: ASND). Analyst Heiko Ihle from H.C. Wainwright reiterated a Buy rating, with a C$2.40 price target.
Ihle commented:
“We maintain our Buy rating and reduce our per share PT to C$2.40 from C$2.50. Our lowered PT resulted from our revised CapEx estimate for 2018 amid a reduced cash balance and higher share count following the acquired interest in Redcorp which we currently value at cost while shares got issued below our NAV.”
According to TipRanks.com, Ihle is a 3-star analyst with an average return of 1.8% and a 35.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Northern Dynasty Minerals.
Currently, the analyst consensus on Ascendant Resources Inc is a Strong Buy with an average price target of C$1.97.
The company has a one-year high of C$1.23 and a one-year low of C$0.62. Currently, Ascendant Resources Inc has an average volume of 85.3K.
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$0.72, close to its 52-week low of C$0.62.
