stockwatch.com Globe says Artemis Gold maintained at "outperform"
s2024-04-19 08:32 ET - In the News
The Globe and Mail reports in its Friday, April 19, edition that National Bank Financial analyst Don DeMarco has reaffirmed his "outperform" recommendation for Artemis Gold. The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco boosted his share target to $14 from $12.75. Analysts on average target the shares at $12.25. Mr. DeMarco says in a note: "FCF inflection on deck (NBF est. first pour October, 2024) with Blackwater development led by an experienced COO, fully financed, on time and on budget, with potential development tailwinds from a mild winter in 2023/24. Attractive economics from LOM production of 339k oz/year over 22 years (DFS Sept. 2021) from a sizable eight mln oz reserve endowment and visibility for elevated F5Y production (500k oz/year) upon accelerating Phase II. Tier One jurisdiction benefits accentuated as headwinds continue to increase in other jurisdictions and for non-permitted projects universally. Additionally, we flag high insider ownership (38 per cent) and M&A appeal as a single-asset producer." The Globe reported on Feb. 7 that National Bank Financial analysts rated Artemis Gold "outperform." The shares could then be had for $7.10.