Analyst Heiko Ihle of H.C. Wainwright maintained a Buy rating on Cerrado Gold, boosting the price target to C$2.20.
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Heiko Ihle has given his Buy rating due to a combination of factors that highlight Cerrado Gold’s promising future prospects. The company’s recent financial results show a significant increase in income from mining operations, despite a net loss driven by a one-time income tax expense. This growth in mining income indicates strong operational performance and potential for future profitability.
Additionally, Cerrado Gold’s ongoing development at Minera Don Nicolás and the Mont Sorcier project are key drivers of this positive outlook. The advancement in underground development at MDN and the expansion of the Mont Sorcier mine plan to 8.0 million tonnes per annum demonstrate the company’s commitment to scaling its operations. Furthermore, the encouraging exploration results and strategic planning for future phases at Mont Sorcier suggest a robust long-term growth trajectory, supporting the Buy rating.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRDOF in relation to earlier this year.