Phase 3 drilling program underway with over 195 drill holes planned and five rigs on site.According to the company’s April investor presentation, Pierre Lassonde ownership position stands at approximately 17 per cent. Mr. Lassonde is the co-founder of the original Franco-Nevada Corp. . Management and board members ownership stands at roughly 15 per cent, aligning their interests with those of its shareholders.
Potential near-term catalysts: 1) updated mineral resource estimate ; and 2) positive drilling results. Key risks to consider: 1) volatility in the price of gold; and 2) future financings. The company will need to raise additional money to fund future exploration.This small-cap stock with a market capitalization of $307-million has four “buy” recommendations and one “speculative buy” recommendation .
The firms providing research coverage on the company are: Desjardins Securities, PI Financial, Stifel Canada, TD Cowen nd VSA Capital.Year-to-date, one analyst has revised his target price. In February, Stifel’s Stephen Soock increased his target price to $5 from $4.40.The average one-year target price is $5.15, implying the share price may appreciate 91 per cent over the next 12 months. Individual target prices vary widely and are: $3 , $3.75, two at $5, and $9 .
This small-cap stock can be thinly traded. The three-month historical daily average trading volume is approximately 295,000 shares.Looking at three ESR risk providers, Prime is not rated by Sustainalytics, MSCI, or Bloomberg.