The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
FVI: Another Solid Quarter from Caylloma
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MATTHEW O'KEEFE, Cormark Securities Inc.
(08/13/2010)
"Yesterday, Fortuna reported Q2/10 financial results, which were generally in line with estimates. Adjusted EPS came in at $0.03 in line with our and consensus estimate of $0.03. FVI continues to demonstrate strong and steady performance at Caylloma with considerable exploration upside. San Jose is expected to begin production in 2011, which is expected fuel growth. Continuing to apply a 10x multiple to our 2011 CFPS estimate of $0.33 and a 1.2x multiple to our NAVPS estimate of C$3.01, we are reiterating our Buy recommendation and C$3.50 target price. The stock is currently trading at 0.8x our NAVPS estimate and 7.1x our 2011 CFPS estimate." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
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