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Analyst Actions: Canaco May Be The New Ventana, Says TD Newcrest

TD Newcrest analyst Daniel Earle is convinced that Canaco Resources Inc. (CAN.V) has made a world-class gold discovery at its Handeni project in Tanzania, the Financial Post reported.

"Why does that matter? Because the last time Mr. Earle made such a bullish call on an early-stage gold company was Ventana Gold Corp., which became a market darling and was eventually taken out in a $1.5-billion deal. It was one of the best analyst calls in years," the FP wrote.

Earle has a target of $8.00 a share on Canaco, more than double the current level.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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