Tribe Technologies
Trending >

DMG Blockchain named a top pick for Q3 at Paradigm Capital

DMG Blockchain Solutions

DMG Blockchain CEO Dan ReitzikIt’s had a tough road since going public, but Paradigm Capital analyst Daniel Kim thinks things are about to turn around for DMG Blockchain Solutions (TSXV:DMGI).

In a special report to clients today that presented the firm’s top picks for the upcoming quarter, Paradigm analyst Daniel Kim chose the nascent blockchain player as one of his.

“DMG is leveraging its world-class team, diversified position and strong partnerships to build a blockchain powerhouse,” Kim says. “DMG’s mining operations are well on their way to achieving 40MW by mid-2018, 60MW by the end of FY18 and +150MW by 2019, with the majority of this capacity dedicated to MaaS clients ($1.5M revenue per MW with 40% EBITDA margin). DMG’s strong and rapid FCF generation capabilities will allow it to continue deploying blockchain solutions across multiple growing industries, including cannabis, transportation, financial services, forensics and data analytics.

Kim sees DMG producing revenue and EBITDA in FY18 of $10.7 million and negative $8.2 million, respectively, and revenue and EBITDA in FY19 of $58.9 million and $15.8 million, respectively.

Kim currently has a “Buy” rating and a one-year price target of $1.50 on DMG Blockchain, which implied a return of 500 per cent at the time of publication.

Disclosure: DMG Blockchain is a sponsor of Cantech Letter

We Hate Paywalls Too!

At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.

Make a one-time or recurring donation

About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
insta twitter facebook


Leave a Reply