08:29:32 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Argonaut Gold Inc
Symbol AR
Shares Issued 293,724,097
Close 2020-11-10 C$ 2.41
Market Cap C$ 707,875,074
Recent Sedar Documents

Globe says new coverage rates Argonaut Gold "buy"

2020-11-11 08:28 ET - In the News

The Globe and Mail reports in its Wednesday, Nov. 11, edition that Paradigm Capital analyst Lauren McConnell began coverage of Argonaut Gold with a "buy" rating on Tuesday. The Globe's David Leeder writes in the Eye On Equities column that Ms. McConnell set a share target of $6.50, exceeding the consensus of $4.94. Ms. McConnell says in a note: "We believe Argonaut is unique, offering a solid production base with significant upside through its development projects. There are few undeveloped deposits capable of producing 150Koz plus per year (first five years) with a 15 plus year mine life and excellent infrastructure, and the supply decreases exponentially when a filter limits the search to 'safe jurisdictions.' Argonaut's Magino project has all of those attributes and more. We believe the fully permitted and funded development plan is an intelligent option with a robust IRR (28 per cent), in a good jurisdiction (Ontario), and significant upside through exploration and expansion potential. Its second development asset, Cerro del Gallo (Mexico), would dovetail nicely, in our opinion, and boost production further. Argonaut's current market valuation primarily reflects the value of its existing operations."

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