Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on Fury Gold Mines (FURY – Research Report), with a price target of $1.50.
Heiko Ihle has given his Buy rating due to a combination of factors related to Fury Gold Mines’ recent strategic and operational achievements. The company’s sale of shares in Dolly Varden Silver Corporation provided it with approximately C$4.0M in gross proceeds, bolstering its liquidity and supporting further exploration activities at its key projects, Eau Claire and Éléonore South. With a sizable ownership stake in Dolly Varden, Fury also retains the option to liquidate additional shares if market conditions become favorable, offering a secondary source of capital to fuel its operations and exploration efforts.
Moreover, the acquisition of Newmont Corporation’s 49.9% stake in Éléonore South has positioned Fury to fully consolidate its interest in the project, enhancing the potential for site development and future upside. On the exploration front, the company’s final drill results from the 2023 program at the Eau Claire project’s Hinge Target have been promising, including one of the holes yielding high-grade gold intercepts near the surface, which suggests a strong potential for resource expansion. These factors collectively underpin Ihle’s optimism and support his Buy rating for Fury Gold Mines.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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.
Read More on FURY:
