H.C. Wainwright Reiterates a Buy Rating on Corvus Gold

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Corvus Gold (TSX: KOR). Analyst Heiko Ihle from H.C. Wainwright remains bullish on the stock and has a C$3.80 price target.

Ihle wrote:

“We highlight that hole ML18-067 intersected 4.02 g/t gold over 18.3 meters within the Main Zone, and represented the western most reported drill hole at the deposit thus far. This hole also extended lower grade oxide areas of the deposit in two separate intercepts, returning 0.68 g/t gold over 25.9 meters, and 0.67 g/t gold over 30.5 meters, respectively. The firm’s Phase II program is expected to continue through August, and results should include additional drilling in the western zone. The firm also aims to begin a 30,000 meter Phase III program in September targeting the high-grade center of the deposit. Additional expansion potential to the east. Results from hole ML18-064 along the eastern portion of the deposit suggest that mineralization may extend along the northeast projection of the Fluorspar Canyon Fault.”

According to TipRanks.com, Ihle is a 4-star analyst with an average return of 8.5% and a 49.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

Read also: Gold Prices: What Are the Market Factors That Are Driving Current Fluctuations?

Corvus Gold has an analyst consensus of Moderate Buy, with a price target consensus of C$3.40.

Corvus Gold’s market cap is currently C$271.1M and has a P/E ratio of 0. The company has a Price to Book ratio of 28.69.

Corvus Gold, Inc. is a gold exploration and development company. Its portfolio projects include West Pogo, Chisna, LMS Mother Lode and North Bullfrog. The company was founded on April 13, 2010 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$2.62.