H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Solitario Exploration & Royalty (XPL – Research Report) today and set a price target of $1.20.
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Heiko Ihle has given his Buy rating due to a combination of factors associated with Solitario Exploration & Royalty’s recent discoveries and promising prospects. The recent drilling results at the Golden Crest Project have uncovered intersections within the Homestake Banded Iron Formation, which is a significant geological discovery as it suggests potential for substantial gold mineralization similar to that found at the Homestake mine. These findings from drill hole GC-010, which showed substantial gold grades, reinforce the potential for further exploration in the area.
Looking ahead, Solitario’s plans to drill additional high-priority targets further bolster the potential for discovering high-grade gold deposits. Furthermore, the valuation of Solitario is supported by its stake in the Florida Canyon zinc project and other exploratory assets, alongside its cash reserves and marketable securities. The combination of these factors contributes to a positive outlook for the company’s stock, leading to a reiteration of a $1.20 price target and the Buy rating.