In a new note to investors 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 remains bullish on the stock and has a C$2.40 price target.
Ihle commented:
“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 -6.4% and a 29.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Ascendant Resources Inc has an analyst consensus of Moderate Buy, with a price target consensus of C$1.60, an 113.3% upside from current levels. 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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Ascendant Resources Inc’s market cap is currently C$57.47M and has a P/E ratio of 4.5. The company has a Price to Book ratio of 1.53.
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 Monday at C$0.75.
