H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Fury Gold Mines (FURY – Research Report) today and set a price target of $1.50.
Heiko Ihle has given his Buy rating due to a combination of factors including Fury Gold Mines’ continued success in its drilling program and promising assay results. The firm has notably exceeded its drilling targets at the Eau Claire project, completing a substantial 19,000 meters over 31 holes, while still managing to stay under budget. This efficiency in advancing the project is coupled with the anticipation of further results from the remaining 16 holes, which could potentially bolster the company’s resource estimates.
The company’s recent drill results indicate high-grade intercepts, such as the notable 5.5 meters of 4.52 grams per tonne gold, demonstrating the richness of the mineralization at the Hinge Target. These results are key in establishing a pattern of high-grade mineralization, which aligns well with Fury Gold Mines’ geological models. Furthermore, the increased valuation of Fury’s ownership in Dolly Varden and the inclusion of in situ ounces from their other projects contribute to Ihle’s slightly raised price target. The comprehensive evaluation of Fury’s various assets and their potential, as reflected in the increased net asset value, underpins Ihle’s optimistic outlook on the company’s stock.
According to TipRanks, Ihle is an analyst with an average return of -14.4% and a 28.54% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Hecla Mining Company, and Vista Gold.
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Fury Gold Mines (FURY) Company Description:
Auryn Resources, Inc. is an exploration company. It focuses on the acquisition, exploration and development of mineral resource properties. The firm holds interest in Committee Bay, Gibson MacQuoid and Homestake Ridge projects. The company was founded on June 9, 2008 and is headquartered in Vancouver, Canada.
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