Stifel Canada on Tuesday initiated coverage on the shares of Mako Mining (MKO.V) with a speculative buy rating and a C$20.00 price target.
"We are Initiating Coverage of Mako Mining with a SPECULATIVE BUY rating and C$20.00/f.d. shr. target price. Our target price is based on a conceptual DCF valuation of the cash flows from the company's flagship San Albino high-grade open-pit Au-Ag mine in Nicaragua and currently ramping-up Moss Au-Ag mine in Arizona. Our sum-of-the-parts valuation also includes discounted potential cash flows from the company's early construction-stage Mt Hamilton (Au-Ag) and PEA-stage Eagle Mountain (Au) assets in Nevada and Guyana, respectively," analyst Ryan Walker wrote.
Price: $11.43, Change: $+0.31, Percent Change: +2.79%