Today, an analyst has provided a rating update for the Materials sector company, Ascendant Resources Inc (ASND). Analyst Heiko Ihle from H.C. Wainwright rated Ascendant Resources Inc (ASND) a Buy, setting a C$2.10 price target.
Ihle said:
“We maintain our Buy rating while raising our PT to C$2.10 from C$2.00 per share. The slightly higher PT is a result of an increase in expected silver grades from 50 gpt to 60 gpt at El Mochito. Our valuation remains based on a DCF for El Mochito, using a 9% discount rate, to arrive at our estimated NAV.”
According to TipRanks.com, Ihle is a 4-star analyst with an average return of 3.6% and a 49.0% 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$2.10.
Ascendant Resources Inc’s market cap is currently C$28.14M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.98.
Ascendant Resources, Inc. is a mining company, which 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, Chris Buncic, and Stephen M. Shefsky on May 1, 2006 and is headquartered in Toronto, Canada.
The company’s shares closed on Wednesday at C$0.37, close to its 52-week low of C$0.32.
