Energold Drilling Receives a Hold from TD Securities

By Carrie Williams

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. TD Securities’ analyst Steven Green reiterates their Hold rating on the shares of Energold Drilling (TSXV: EGD), with a C$0.60 price target.

Green noted:

“We are maintaining our HOLD recommendation, but lowering our target price to $0.60 from $0.65 previously, reflecting our revised estimates. Despite Energold’s diversified business model, the company is facing headwinds in both its core businesses—energy and frontier mineral drilling.”

According to TipRanks.com, Green is a 2-star analyst with an average return of 0.3% and a 47.1% success rate. Green covers the Basic Materials sector, focusing on stocks such as Eldorado Gold Corp, Dominion Diamond, and IAMGOLD Corp.

Energold Drilling has an analyst consensus of Hold, with a price target consensus of C$0.60.

The company has a one year high of C$1.34 and a one year low of C$0.40. Currently, Energold Drilling has an average volume of 40.8K.

Energold Drilling Corp. manufactures and operates mineral exploration, water and energy drilling rigs. The company operates its business through three segments: Minerals, Energy and Manufacturing. The Minerals segment engages in providing drilling services in the minerals industry. The Energy segment provides drilling and other services to the energy sector in Canada, the U.S. and South America. The Manufacturing segment engages in designing and manufacturing specialty and customized drilling rigs and associated equipment for water well, mineral exploration and geotechnical drilling companies. Energold Drilling was founded on April 3, 1973 and is headquartered in Vancouver, Canada.

The company’s shares closed last Monday at $0.48, close to its 52-week low of $0.40.