Post by
MuttleyKnows on Jan 18, 2023 9:20pm
Analyst Coverage
Great results but not much impact on the share price unfortunately.
I just read two analyst reports released after the latest drill results were published. Raymond James and Red Cloud re-iterated buy ratings. Both have about the same target price in the base case but the Red Cloud analyst report was more detailed so I have extracted some comments for them.
Their estimate for the potential gold is as follows ... "Our base and upper-case scenarios, which incorporate additional depth potential and strike extensions of known vein zones, support mineral inventory estimates of 2.1M oz AuEq and 6.8M oz AuEq, respectively."
On valuation ... "We maintain our BUY rating and target price of C$1.10/sh. Our target price is based on 0.8x our sum-of-parts derived NAVPS estimate of C$1.30. The company currently trades at a slight discount to its peers on an EV/oz AuEq basis at US$32/oz versus peers at US$38/oz. We believe Westhaven should command a premium given its prime location and excellent results to date. Upcoming Catalysts: 1) Shovelnose drill results (ongoing) and 2) Updated Shovelnose MRE (H1/23)."
Comment by
ukrop19 on Jan 19, 2023 12:40am
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