In a Feb. 20 research note, analyst Joe Reagor reported ROTH Capital Partners increased its target price on Auryn Resources Inc. (AUG:TSX; AUG:NYSE) to US$3.25 per share from $3 because "2019 could be a significant year for the company as it examines new targets at Committee Bay and Sombrero." Auryn's current share price is US$1.11.
Helping determine plans for 2019, Reagor highlighted, Auryn recently identified, through machine learning, 12 new targets at Committee Bay in Nunavut. The company will need to test these targets for their potential but given there are so many, "it is likely one or more could produce positive results in 2019 and beyond," he wrote.
In other news, Auryn began trenching at Sombrero in Peru earlier this month to define the surface expression of deposits there. Reagor commented, "Ultimately, we believe Sombrero could quickly become the flagship asset of Auryn, and we have revised our valuation of the company to reflect this potential."
To fund future exploration, at Committee Bay and/or Sombrero, Auryn likely will divest of one or more noncore assets, Reagor reported.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Disclosures from ROTH Capital Partners, Auryn Resources Inc., Company Note, February 20, 2019
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Within the last twelve months, ROTH has received compensation for investment banking services from Auryn Resources Inc...
ROTH makes a market in shares of Auryn Resources Inc. and as such, buys and sells from customers on a principal basis.
Shares of Auryn Resources Inc. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
Within the last twelve months, ROTH has managed or co-managed a public offering for Auryn Resources Inc.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
