Source: Streetwise Reports
November 15, 2023 (Investorideas.com Newswire) Blackwolf Copper and Gold Ltd. has been covered as positively by analysts following several successes in the Golden Triangle. Read on to hear what they have to say about this company's stock.
Blackwolf Copper and Gold Ltd. (BWCG:TSX.V) has received attention recently related to the incredibly high grades found on the Swann Zone of its Harry property, located in British Columbia's Golden Triangle. Analysts, however, have had positive things to say about Blackwolf for quite some time, as the full picture of the company rounds out too much more than high grades at Harry.
Couloir Capital released a report in June related to the company's updated resource estimate, where it named a target price for the company of CA$0.59, representing a potential return of 65% at that time.
The report also maintained its "Buy" rating for the company.
According to Couloir Capital, this analysis was driven by the company's excellent resource estimate, which it says is "a major milestone and establishes the project as a 400,000,000 pound copper equivalent deposit."
Attention from Major Strategic Investors
In October, it was announced in a press release that well-known investor Frank Giustra increased his share of the company as a part of a deal that raised CA$3,263,523 in gross proceeds.
The offer, according to the report, included 13,598,050 units of the company valued at CA$0.24 per unit, and Frank Giustra acquired 3,125,000 units.
As a result, he now controls 13.02% of the company's outstanding common shares, amounting to 15,961,285.
The company stated in the press release that it intended to finance exploration, particularly the Niblack project in the short term and the Harry project and the Cantoo project in the spring drilling season of 2024.
Results from the Harry Property Makes Company a "Buy"
Red Cloud Securities reviewed the company in November and rated the company as "very positive." This analysis, written by Taylor Combaluzier, was heavily influenced by the company's recent bonanza-grade gold finds on the Harry property.
Combaluzier commented on the company, "We view these initial assays very positively as they confirmed our belief that the Harry property was ripe for a discovery following our observations of abundant visible sulfide mineralization at VG at surface during our site visit."
He rated the company as a "Buy" for potential investors and named a target price of CA$0.55 per share.
The company has a number of catalysts to report, including pending assay results from the Cantoo and the Harry project, and further drilling on the Swann zone next year.
In another report, Combaluzier wrote about a visit to the company's site: "We came away from our visit with a new appreciation for the untapped potential of Blackwolf's project, along with a better grasp of their connection to prolific past and current mining operations in the Golden Triangle." Combaluzier reiterated Blackwolf's rating, its target share price, and its potential 139% return for investors.
Technical Analyst Clive Maund reviewed Blackwolf on October 24, 2023, and rated the company as a "Strong Speculative Buy for all timeframes." [OWNERSHIP_CHART-1961]
Maund highlighted the company's stock position as a major positive: "On its 6-month chart, we can see that the Head-and-Shoulders bottom pattern that has been forming since August has been accompanied by a big volume buildup with a big buildup in upside volume over the past week or so has driven the Accumulation line strongly higher and thus points to an upside breakout soon."
Ownership and Share Structure
Insider filings on SEDI provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 4.55% of the company.
According to insider filings, Executive Chairman Robert John McLeod owns 1.92% of the company with 2.36 million shares, CFO Susan Marie Neale owns 0.60% of the company with 0.73 million shares, Directors Andrew Browing owns 1.64% (2 million shares) and Jessica Van Den Akker own 0.27% (0.33 million shares) of the company, and CEO and Director Morgan Lekstrom owns 0.12% of the company with 0.14 million shares.
Institutions own about 4.97% of the company, Reuters reports.
Reuters revealed that Crescat Capital, LLC, owns 4.15% of the company with 5.08 million shares, and U.S. Global Investors, Inc. owns 0.82% of the company with 1.00 million shares.
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