Equities research analysts at Fundamental Research initiated coverage on shares of Voyageur Minerals (CVE:VM) in a research note issued to investors on Tuesday, January 7th. The brokerage set a “buy” rating and a C$0.39 price target on the stock. Fundamental Research’s price target points to a potential upside of 387.50% from the company’s current price.
The analysts wrote, “Fundamental Research Corp has issued a report entitled “Voyageur Pharmaceuticals Ltd. (TSXV: VM) – Initiating Coverage: Junior Resource Company Building a Fully Integrated Pharmaceutical Company” and dated January 7, 2020. The full report is now at www.researchfrc.com.
• Voyageur Pharmaceuticals Ltd. (“company”, “VM”), holder of three barium projects in B.C., including one with a resource estimate, and iodine properties in Utah, has a Joint Venture (“JV”) with privately held Chief Medical Supplies Ltd. (a Canadian pharmaceutical manufacturing and distribution company) to manufacture and market contrast agents (made with barium and/or iodine compounds) used for radiology digital imaging in the healthcare industry.
• Contrast agents are administered to a patient prior to using an imaging technology (such as X-ray / MRI / CT scan) to increase an image’s contrast by delineating body structures in which the contrast agent is localized.
• “From the Earth to the Bottle” – There is currently no contrast agent manufacturer in the world that owns and controls its active pharmaceutical ingredient (“API”) – the main ingredient feedstock. VM’s JV intends to be the first vertically-integrated contrast agent supplier, mining its own barium and iodine. Management estimates that their JV will have a significant ingredient cost advantage over its competitors if they are able to produce barium and iodine from their own projects.
• The JV is expected to commence marketing and sales of its first set of products across Canada, upon receipt of Health Canada approvals by Q1-2020. Barite and iodine for the products will be sourced from third-parties until one of VM’s API projects is advanced to production.
• The resource estimate on VM’s barite project in B.C. is estimated to have potential to supply barite for 30+ years.
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*FRC provides issuer paid coverage; read all the important disclosures at the back of each report
CVE VM traded down C$0.01 during trading hours on Tuesday, hitting C$0.08. 56,000 shares of the company traded hands, compared to its average volume of 66,298. The business’s 50-day moving average is C$0.07 and its 200-day moving average is C$0.07. Voyageur Minerals has a twelve month low of C$0.05 and a twelve month high of C$0.12. The company has a debt-to-equity ratio of 22.07, a quick ratio of 0.25 and a current ratio of 0.27. The stock has a market capitalization of $5.74 million and a price-to-earnings ratio of -5.71.
About Voyageur Minerals
Voyageur Minerals Ltd., an exploration stage company, engages in acquiring, exploring, and developing mineral exploration properties. It owns 100% interests in three barium sulfate deposits located in British Columbia, Canada. The company also has interests in two lithium brine projects in Utah. Voyageur Minerals Ltd.
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