Analyst Ben Pirie of Atrium Research maintained a Buy rating on Forge Resources, with a price target of C$1.20.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Ben Pirie has given his Buy rating due to a combination of factors tied to both operational progress and asset quality at La Estrella. He notes that Forge Resources has successfully resumed smooth ramp development after addressing difficult underground conditions, and the project is now nearing the key horizontal crosscut that will link directly into the coal seams.
Pirie also emphasizes that lab results confirm La Estrella hosts high-grade, premium coal with strong calorific value and low sulphur, enhancing the project’s economic appeal. In addition, the company has already completed the first tranche of its financing and is advancing toward a second closing, which supports the funding of development activities and underpins his constructive view on the stock.
According to TipRanks, Pirie is a top 100 analyst with an average return of 68.3% and a 64.32% success rate.