Exploits Discovery (NFLDF) has received a new Buy rating, initiated by Atrium Research analyst, Ben Pirie.
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Ben Pirie has given his Buy rating due to a combination of factors that highlight the potential of Exploits Discovery’s recent strategic moves. The company has acquired a significant land package in Ontario and Quebec, which are considered top-tier jurisdictions for gold exploration. This acquisition includes approximately 680,000 ounces of historical gold resources, which reduces the exploration risk as the company aims to expand these resources.
Furthermore, Exploits Discovery is trading at a substantial discount compared to its peers, with a valuation of around US$5 per historical gold ounce in the ground, whereas the peer group average is approximately US$16 per ounce. The company has already initiated exploration activities at the Hawkins Project in Ontario and two of its Quebec assets, with drilling expected to commence soon. These factors, combined with the strategic positioning of their land package adjacent to New Found Gold’s Queensway Project in Newfoundland, underpin Ben Pirie’s Buy rating and the target price of $0.10 per share.
Pirie covers the Basic Materials sector, focusing on stocks such as Santacruz Silver Mining, Forge Resources, and Omai Gold Mines. According to TipRanks, Pirie has an average return of 43.5% and a 59.02% success rate on recommended stocks.