Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on First Mining Gold, retaining the price target of C$0.45.
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Heiko Ihle has given his Buy rating due to a combination of factors that highlight the potential of First Mining Gold. The recent drilling results at the Duparquet Gold Project have unveiled a new gold zone, the Minuit zone, which shows promising gold intersections. This discovery indicates significant upside potential for the project, aligning with previous successful drill results in the area.
Additionally, Ihle’s rating considers the revised precious metal price deck, reflecting the substantial increase in gold, silver, and copper prices over the past year. These price adjustments, driven by macroeconomic developments and geopolitical risks, suggest a favorable environment for safe-haven investments like gold. Furthermore, the valuation of First Mining Gold is supported by a discounted cash flow analysis for its projects, with a discount rate that accounts for associated risks, and the firm’s strong cash position and strategic investments in other mining companies bolster its financial outlook.
Ihle covers the Basic Materials sector, focusing on stocks such as Gold Resource, Americas Gold and Silver, and Integra Resources Corp. According to TipRanks, Ihle has an average return of 35.2% and a 69.17% success rate on recommended stocks.