Ascendant Resources Inc (ASND) has received a rating update from a Wall Street analyst today. Analyst Heiko Ihle from H.C. Wainwright rated Ascendant Resources Inc (ASND) a Buy, setting a C$2.30 price target.
Ihle observed:
“We maintain our Buy rating and reduce our per share PT to C C$2.30 from C$2.40. Our lower PT resulted from a lower cash balance and slightly higher debt as of the end of 3Q18. Our valuation remains based on a DCF of El Mochito, utilizing a 9% discount rate.”
According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -10.6% and a 24.6% 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$1.55 average price target.
Ascendant Resources Inc’s market cap is currently C$52.11M and has a P/E ratio of 4.1. The company has a Price to Book ratio of 1.39.
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$0.68.
