2023-07-04 15:31:26
Couche-Tard sees a more positive environment and plans to carry out three to four significant transactions over the next year. (Photo: 123RF)
What to do with the titles of Patriot Battery Metals, mdf commerce and Alimentation Couche-tard? Here are some recommendations from analysts likely to move prices soon. Note: the author may have a totally different opinion from that expressed.
Patriot Battery Metals Inc. (PMET, $15.05): Will exploration results justify expectations?
The firm that is active in the exploration of hard rock lithium in the James Bay region and which has gone from a “Penny stock” ($0.25) to a title worth more than $15 over the Last 18 months has just disclosed the results of the fourth quarter of its financial year 2023.
While these did not hold any surprises, Frederic Tremblay, an analyst at Desjardins Securities, indicates that attention should be focused primarily on the results of his exploration program at his flagship Corvette property, which should be known soon, as well as than on its drilling program for the summer and fall of 2023.
The analyst’s interest stems from his expectation that the initial resource estimate will confirm Corvette as the largest hard rock lithium deposit in North America.
Despite the temporary shutdown of its activities at its Corvette property due to the recent forest fires, the firm reiterates that it will be able to announce its initial results in July. Management will submit a request to the stock market authorities in the coming months to graduate from the Venture Exchange to the TSX.
In its fourth quarter, the firm suffered a loss of $0.02 per share, as forecast by the analyst. It used approximately $3 million of its liquidities for its operating expenses and approximately $12 million for its exploration investments. Having carried out a $50 million flow-through share issue, it ended the quarter with a cash position of $56.7 million compared to $19.3 million at the end of the previous quarter.
Beyond his forecast that the initial resource estimate will be large, Frederic Tremblay also likes the strong potential for resource expansion at the Corvette property.
He recommends the purchase of the security while specifying the speculative nature of this investment. Its 12-month target price is $21.
mdf commerce inc. (MDF, $3.54): the title is well evaluated
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