In a report released today, Dylan Kelly from Ord Minnett maintained a Buy rating on Alkane Resources Ltd (ALKEF – Research Report), with a price target of A$1.20. The company’s shares closed last Thursday at $0.47.
According to TipRanks, Kelly is a 4-star analyst with an average return of 21.9% and a 54.35% success rate. Kelly covers the Basic Materials sector, focusing on stocks such as OZ Minerals Limited, Lynas Rare Earths Limited, and Aurelia Metals Limited.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alkane Resources Ltd with a $0.85 average price target.
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Based on Alkane Resources Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0
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Alkane Resources Ltd. is a multi-commodity mining and exploration company. It focuses on gold, copper, zirconium, niobium and rare earths. The company produces and develops zirconium-hafnium, niobium-tantalum, yttrium-rare earths, gold, silver and copper deposits. Its projects include Dubbo Zirconia and Tomingley Gold. Alkane Resources was founded on May 13, 1969 and is headquartered in Burswood, Australia.
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