FINWIRES · TerminalLIVE
FINWIRES

Omai Gold Mines Maintained at Buy at Stifel Canada Following Drilling Results; Price Target Kept at C$3.50

By

Stifel Canada on Tuesday maintained its buy rating on the shares of Omai Gold Mines (OMG.V) and its C$3.50 price target after the company released drilling results from its Omai Gold Project in Guyana.

"Omai reported additional drill results from Northeast Wenot highlighted by 8.54 g/t Au over 20.6m, with results grade accretive to the current MRE. Reported mineralized intervals averaged ~2.20g/t Au versus the Wenot inferred resource grade of 1.35g/t Au (63% grade accretive), while sediment-hosted mineralization averaged ~1.84g/t Au (36% grade accretive). We believe the sedimentary sequence remains a key area to watch as previously modeled 'barren sediments' continue to return grades that could support improved strip ratio and project economics to be seen in the upcoming PEA expected within two months. OMG currently trades at 0.49x LT/PNAV versus precedent transactions at 0.45-0.66x P/NAV, implying a valuation range of C$2.93 - $4.24/sh," analyst Cole McGill wrote.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $2.63, Change: $+0.08, Percent Change: +3.14%

Related Articles

Research

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Signet Jewelers Limited

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month target at $100, applying a forward P/E of 9.3x our FY 27 (Jan) earnings estimate compared to the three-year historical average at 11.6x and five-year average at 10.9x. The industry mean peer average is 11.7x. Following a strong earnings beat of +13% vs. the consensus in Q1 FY 27, we raise our FY 27 EPS estimate to $10.80 (prior $10.51) and increase FY 28's to $12.50 ($11.25). Our revenue projections are $6.84B in FY 27 and $7.0B in FY 28. SIG's physical stores delivered 3.8% same-store sales growth in Q1 FY 27, sharply outperforming the 4.9% decline in e-commerce and demonstrating that well-located, experiential jewelry stores are delivering. The $100M cost saving program provides margin expansion runway with 150 bps of operating margin expansion potential, a buffer to higher input costs and promotional intensity. SG&A expenses declined to 32.8% of total sales in Q1 FY 27 from 34.1% a year ago. We are monitoring digital strategy challenges in e-commerce that need improvement.

$SIG
Research

Cameco Maintained at Buy at Stifel Canada Following TEPCO Cigar Lake Stake Buy; Price Target Kept at C$180

Stifel Canada on Tuesday maintained its buy rating on the shares of uranium producer Cameco (CCO.TO, CCJ) and its C$180.00 price target after the company and partner Orano acquired TEPCO's minority stake in the Cigar Lake operations in norther Saskatchewan."A good deal for Cameco. Cameco (with Orano) has agreed to acquire TEPCO's 5% participating interest in the Cigar Lake JV, lifting Cameco's ownership by 2.871% to 57.418% (Orano goes to 42.582%) for $115.75Mln (Cameco's share). Closing is expected in Q3/26 - subject to regulatory approval and customary conditions. The acquisition price implies a discounted 'clean-up' transaction of a Tier-One asset. The $115.75Mln paid for Cameco's incremental 2.871% implies a $4.03Bln Cigar Lake valuation (100% basis) vs. our NPV8% of $8.91Bln NPV (based on an LT uranium price assumption of $120/lb) and a transaction multiple of just 0.45x P/NPV. We estimate the deal is +0.5% accretive to our NAVPS and +3.3% accretive to FY27 EPS, while adding ~0.5Mln lbs/yr of attributable uranium production and ~5Mln lbs of attributable proven and probable uranium reserves at an in-situ acquisition price of US$17/lb," analyst Ralph Profiti noted.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $167.01, Change: $+11.17, Percent Change: +7.17%

$CCJ$CCO.TO
Research

BofA Securities Initiates FedEx Freight With Buy Rating, $185 Price Target

BofA Securities Initiates FedEx Freight With Buy Rating, $185 Price Target

$FDXF