Featured Companies: GoldMining Inc.
This Gold Stock’s Going at Least 120% Higher
Earlier this month, GoldMining (NYSE: GLDG)(TSX: GOLD) announced the initiation of a preliminary economic assessment (PEA) on its Sao Jorge gold project in Brazil.
This is the third concurrent project in as many countries where GoldMining is pursuing a PEA.
The new activity has caught analysts’ attention and garnered admiration.
Haywood reiterated its “buy” rating and C$4.25 price target, noting:
We recommend continuing to add to positions in [GoldMining] at the current significant discount to peers, to gain significant leverage to gold as the environment for gold and precious metals remains very bullish. Buyers of GoldMining today get a company trading at a steep discount to our valuation, currently trading at an EV/oz Au multiple of US$10.68 (vs peers at US$49/oz Au and vs our target for GoldMining of US$24/oz).
That C$4.25 price target is nearly 120% more than GoldMining shares currently trade.
Investment bank H.C. Wainwright went further, assigning a C$5.75 price target based not just on the new PEAs, but on other near-term catalysts as well, saying:
GoldMining continues to systematically advance and de-risk its portfolio of assets to provide organic growth. Notably, management is already initiating PEAs at the La Mina gold-copper project in Colombia, and the high-grade Yellowknife project in Canada. The company is also already planning for diamond drilling programs to test geological targets at Titiribi and La Mina during 2H21. Lastly, we expect GoldMining to realize continued liquidity benefits after it recently joined the NYSE American.
That price target is nearly triple what shares currently trade.
— Resource Stock Digest Research
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