Cormark (Sprott by any other name) has just initiated coverage on Fortuna Silver (FVI.v). Here’s how the note ends:
We are initiating coverage on Fortuna Silver Mines with a Buy recommendation and a target price of C$2.30 per share, which is based on a 1.0x multiple to NAV, in line with growing precious metals producers. Fortuna shares offer investors exposure to a high quality, junior producer with good leverage to the silver price and a rapidly growing production profile.
All I can say is “what took you so long?”.
DYODD
