Wall Street analyst has provided a review for the NA company today, but retained the same rating on the stock. H.C. Wainwright’s analyst Heiko Ihle reiterates their Buy rating on the shares of Ascendant Resources Inc (TSX: ASND), with a C$2.40 price target.
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, 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 -1.7% and a 30.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Americas Silver Corporation, Golden Star Resources Ltd, and Northern Dynasty Minerals.
Ascendant Resources Inc has an analyst consensus of Strong Buy, with a price target consensus of C$1.88.
Based on Ascendant Resources Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$5.92 million. In comparison, last year the company had a GAAP net loss of C$11.5 million.
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$0.73.
