Feb 5, 2020 Kristen Moran

Mining Stock to Watch: Delrey Metals Gets Multiple “BUY” Recommendations

Delrey Metals

Analysts from multiple sources are offering positive recommendations for Delrey Metals (CSE:DLRY) (OTCPK:DLRYF), a junior resource exploration company with several promising vanadium projects in Canada, including one that is considered “one of the largest and most accessible vanadium projects in North America.”

The company was handed not one, but two “BUY” recommendations on Wednesday and is considered to be undervalued at its current share price of US$0.02.

Delrey Metals

Tradingview.com

Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) currently has a “BUY” recommendation from Tradingview’s technical analysis, which takes into account multiple indicators to give an overall assessment of the stock’s price and direction. According to the analysis, 12 moving averages indicators point to a “BUY” for the stock.

Delrey Metals

Investing.com

At the same time, Investing.com’s technical analysis is also shining the spotlight on Delrey Metals (CSE:DLRY) (OTCPK:DLRYF), with eight moving averages and five technical indicators showing a solid “BUY” rating for the company’s US-listed stock.

Morningstar.com

Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) has also been handed a positive recommendation from Morningstar.com’s value assessment. According to the global financial services firm, Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) is undervalued and currently trading at a 55% discount.

A “fair value” for the company’s OTC stock is US$0.05; however, it is currently sitting at US$0.02.

Is Delrey Metals Destined for a Comeback in 2020?

The company’s stock decreased from C$0.25 to C$0.02 amid market uncertainty last year. The decrease in Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) can be attributed mainly to the price volatility in the vanadium market over the last year.

The price of vanadium took a hit in 2019 after a massive surge in 2018, which sent the price soaring to heights unseen in more than a decade. Unfortunately, there is a strong correlation between vanadium prices and vanadium mining stocks, which caused Delrey’s share price to drop along with the rest of the vanadium market.

If the price of vanadium makes a much-needed comeback in 2020, Delrey Metals’ share price could also bounce back this year.

There are several catalysts this year that could have a positive effect on the price of vanadium, including an increasing demand for vanadium redox flow batteries (VRFB) and electrical vehicles (EV).

The company’s Four Corners Fe-Ti-V exploration project totals 7,655 hectares, offers low exploration and development costs, has excellent infrastructure, and has returned promising metallurgical results for iron, vanadium, and titanium.

In July 2019, Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) revealed its 2019 drill program plans, which included drilling a total of 500 meters from 20 drill pads to test over 3.5 kilometers of strike length.

What’s more, the company will be conducting follow-up prospecting and sampling at Bullseye, Four Corners, Keating Hill West, and its newly discovered Keating Hill North Zones, as well as late-season drilling on the project’s most-promising targets.

Indeed, Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) has continued to show its commitment to becoming a leader in North American vanadium supply and, in turn, has received positive sentiments across the board.

Investors that are interested in the vanadium space will want to keep an eye out for updates from Delrey Metals on the follow-up prospecting and sampling.

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