Aurelian Resources "sector outperform," target price raised
NEW YORK, March 14 (newratings.com) - Analysts at Haywood Securities maintain their "sector outperform" rating on Aurelian Resources Inc (FXN). The target price has been raised from $11 to $12.
In a research note published yesterday, the analysts mention that the company is making progress on the Fruta del Norte gold-silver project, both technically and through discussions with the Government of Ecuador. The downward revision in the target price reflects the de-risking of Aurelian Resources and a reduction in discount rate assumptions from 10% to 9%, Haywood Securities adds.
