Salman Partners Initiates Coverage of EPZ

TIMOTHY LEE, Salman Partners (03/02/2011)
"We are initiating coverage on Esperanza with a BUY recommendation and a target price of CDN$3./share (0.8x NAV). We believe the company is a good investment at this time for the following reasons: 1.) Cerro Jumil is a desirable project that is poised to become a mine. 2.) Based on our NAV calculation, the company's stock is undervalued. 3.) Esperanza appears to be undervalued relative to its peers based on a simple metric of enterprise value to ounce of gold in resources."

 PRINT THIS PAGE   EMAIL THIS PAGE

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.

Related Quotes: