Atrium Research analyst Ben Pirie maintained a Buy rating on Forge Resources yesterday and set a price target of C$1.00.
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Ben Pirie has given his Buy rating due to a combination of factors that highlight the promising potential of Forge Resources. The recent laboratory results from the La Estrella Project in Colombia have demonstrated the extraction of premium coal with a high calorific value and low sulphur content, which are favorable characteristics for both the thermal and coking coal markets.
These results suggest that Forge Resources is well-positioned to capitalize on the demand in these markets, enhancing its financial prospects. The company’s strategic progress and the quality of its coal product support the Buy rating, with a target price set at $1.00 per share, indicating confidence in the company’s future performance.
FRGGF’s price has also changed dramatically for the past six months – from $0.752 to $0.370, which is a -50.80% drop .