In the news-Stockwatch
Globe says new coverage rates Velocity Minerals "buy"
2020-10-26 08:20 ET - In the News
The Globe and Mail reports in its Saturday, Oct. 24, edition that Haywood Securities analyst Pierre Vaillancourt began coverage of Velocity Minerals (46 cents) with a "buy" rating and 90-cent share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $1.15. Mr. Vaillancourt says in a note: "While we recognize there remains significant work ahead to build a critical resource, we believe there is good potential to develop satellite deposits as part of a broader mine complex in Bulgaria. Over the next year, the key driver for the stock will be drill results on Rozino and surrounding projects." Velocity shares have a 52-week range of 20 cents to 54 cents.
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