The Materials sector company, Garibaldi Resources (GGI – Research Report), has received a rating update from a Wall Street analyst today. Analyst Mark Reichman from Noble Financial reiterated a Buy rating, with a $0.50 price target.
According to TipRanks.com, Reichman is ranked 0 out of 5 stars with an average return of -14.1% and a 27.1% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Haynes International, Endeavour Silver, and Comstock Mining.
Garibaldi Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$0.68.
Based on Garibaldi Resources’ latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of C$10.6K. In comparison, last year the company had a GAAP net loss of C$54.09K.
Garibaldi Resources Corp is a Canadian-based junior exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties located in Canada and Mexico. The company’s projects in Mexico include the La Patilla, Sonora properties, and the Iris project. Its projects in Canada include King projects, the Red Lion project, the Grizzly project, the Tora Tora project, Golden Bear, and the Black Gold project.
The company’s shares closed last Thursday at C$0.16, close to its 52-week low of C$0.13.
