TD Securities Sticks to Their Buy Rating for Ikkuma Resources

By Jason Carr

In a new note to investors on May 30, an analyst has provided a rating update for the Materials sector company, Ikkuma Resources (TSXV: IKM). On May 30, analyst Juan Jarrah gave a Buy rating to IKM and set a C$1.05 price target.

Jarrah noted:

“We have reduced our 2018 estimates slightly on the back of lower 2017 exit production (guidance) and our target drops to $1.05 (from $1.10 prior).”

According to TipRanks.com, Jarrah is ranked #4246 out of 4567 analysts.

Currently, the analyst consensus on Ikkuma Resources is Strong Buy and the average price target is C$1.05, representing a 61.5% upside.

In a report issued on May 26, Desjardins also reiterated a Buy rating on the stock with a C$1.10 price target.

Ikkuma Resources’ market cap is currently C$61.26M and has a P/E ratio of 0.

Ikkuma Resources Corp. engages in the identification, acquisition, exploration, development, and production of oil and natural gas properties. It holds both conventional and unconventional projects in Western Canada. The company was founded on October 18, 1979 and is headquartered in Calgary, Canada.

The company’s shares closed last Wednesday at $0.65.