In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on GoldMining, with a price target of $3.75.
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Heiko Ihle has given his Buy rating due to a combination of factors that highlight the potential growth and value of GoldMining’s projects. The significant presence of antimony at the Crucero Project in Peru, which was previously not included in resource models due to lower prices, now presents an opportunity for increased value following China’s export ban and the subsequent rise in antimony prices. This development, along with promising drill results, suggests that Crucero could significantly contribute to the company’s long-term growth.
Additionally, GoldMining’s operational progress across various projects supports this optimistic outlook. The company’s strategic investments in the São Jorge Project in Brazil, La Mina Project in Colombia, and Titiribi Project, along with the approved exploration program at the Rea Uranium Project, demonstrate effective management and potential for future resource expansion. The increase in the price target to $3.75 from $3.25 reflects a higher valuation of the firm’s equity holdings, supported by a discounted cash flow analysis and favorable geopolitical considerations. This comprehensive evaluation underscores the potential upside in GoldMining’s stock, justifying the Buy rating.