H.C. Wainwright Thinks Corvus Gold’s Stock is Going to Recover

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Corvus Gold (KORResearch Report). Analyst Heiko Ihle from H.C. Wainwright remains bullish on the stock and has a C$4.80 price target.

Ihle commented:

“We note that the hole ended in 4.14 gpt gold, and was ultimately lost due to the strong alteration. Hole ML19-107 targeted the eastern extension of oxide mineralization at the main Mother Lode deposit, where a shallow 9.15-meter interval returned 0.63 gpt gold. Finally, ML19-108 was a shallow hole that returned relatively low-grade mineralization, as it targeted extensions of the deposit towards the property line to the south. Drilling of new deep zone provides additional evidence for possible intrusive related deposit. While hole ML19-109 returned what we think were eye-catching grades over substantial intervals, it also provided additional guidance for delineating the new deep zone. The deep zone intersections in hole ML19-109 occurred 100 meters below the main Mother Lode deposit along a north-trending dike swarm.”

According to TipRanks.com, Ihle has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.2% and a 42.5% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.

Corvus Gold has an analyst consensus of Moderate Buy, with a price target consensus of C$4.90, a 135.6% upside from current levels. In a report issued on March 25, Roth Capital also reiterated a Buy rating on the stock with a C$5 price target.

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Corvus Gold’s market cap is currently C$228.9M and has a P/E ratio of 0. The company has a Price to Book ratio of 21.13.

Corvus Gold, Inc. mineral exploration company, which engages in the acquisition, exploration, and development of mineral properties. The company was founded on April 13, 2010 and is headquartered in Vancouver, Canada.

The company’s shares closed on Wednesday at C$2.08, close to its 52-week low of C$1.92.