CA - Osisko Mining: Further Price Rallies In The Near Term But Wait For A Dip
2024-06-20 01:39:21 ET
Summary
- Buy rating reiterated for Osisko Mining Inc.
- Stock price expected to drop before implementing buy recommendation.
- Gold prices and Osisko Mining shares are positively correlated: buying the dips on gold prices bull backs offers greater potential for high returns, driven by renewed bullish sentiment for gold.
- The company is developing the Windfall Lake project as part of a 50:50 joint venture with Gold Fields Limited to turn Windfall Lake into a low-cost, profitable gold operation.
- The flagship project is a few hours from the Abitibi-Témiscamingue region, home to major gold mining companies, a testament to a world-class region in terms of precious metal resources hosted.
A Buy rating for Osisko Mining Inc.
This analysis reiterates the Buy rating already assigned in the previous analysis for shares of Toronto-based gold explorer in Quebec: Osisko Mining Inc. ( OTCPK:OBNNF ) ( OSK:CA ).
As for the previous rating, investors may want to wait before acting on the buy recommendation as a drop in the share price is expected. The drop carries the potential for higher returns given the favorable climate for Osisko shares driven by the promise of The Windfall Lake property, the company's flagship project in Quebec, on bullish sentiment over the precious metals.