H.C. Wainwright Sticks to Their Buy Rating for Corvus Gold (KOR)


A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Corvus Gold (TSX: KOR) received a Buy rating from H.C. Wainwright’s analyst Heiko Ihle, with a C$4.20 price target.

Ihle noted:

“We note that the PEA’s mine plan was based primarily on M&I resources though it also included some Inferred resources. We note that the PEA projects production during the first four years to average an impressive 347,000 ounces of gold at a cash cost of C$591 per GEO. We also believe that the combined operation should remain on the M&A radar of major producers given its low-cost production potential in a geopolitically safe jurisdiction. Solid economics at current metals prices amid strong leverage to the gold price. The combined operation is estimated to have a C$586 million after-tax NPV based on a 5% discount rate, and a 38% after- tax IRR using a C$1,250 per ounce gold price.”

According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -11.0% and a 22.2% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

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Corvus Gold has an analyst consensus of Moderate Buy, with a price target consensus of C$3.98.

Based on Corvus Gold’s latest earnings release for the quarter ending August 31, the company reported a quarterly GAAP net loss of C$2.44 million. In comparison, last year the company had a GAAP net loss of C$1.63 million.

Corvus Gold, Inc. mineral exploration company, which engages in the acquisition, exploration, and development of mineral properties. The company was founded on April 13, 2010 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$2.74.

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