RBC Capital Believes Dalradian Resources (TSX: DNA) Still Has Room to Grow

By Ryan Adsit

Dalradian Resources (TSX: DNA), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Stephen Walker from RBC Capital remains bullish on the stock and has a C$2.50 price target.

According to TipRanks.com, Walker is a 3-star analyst with an average return of 2.1% and a 47.9% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Novagold Resources Inc New, and Newmont Mining Corporation.

Dalradian Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$2.25.

Based on Dalradian Resources’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$0 and GAAP net loss of C$1.28 million. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$1.97 million.

Dalradian Resources, Inc. is an exploration company, which engages in the acquisition, exploration, and development of precious and base metals projects. Its exploration properties are located in Canada, Northern Ireland, and Norway. The company was founded on March 27, 2009 and is headquartered in Toronto, Canada.

The company’s shares closed last Monday at $1.62, close to its 52-week high of $1.68.