In a report released today, Andrew Bowler from Macquarie maintained a Buy rating on De Grey Mining Ltd (DGMLF – Research Report), with a price target of A$1.90. The company’s shares closed last Friday at $1.05.
Bowler covers the Basic Materials sector, focusing on stocks such as Westgold Resources Ltd, Ramelius Resources Limited, and Gold Road Resources Ltd. According to TipRanks, Bowler has an average return of 31.1% and a 65.79% success rate on recommended stocks.
Currently, the analyst consensus on De Grey Mining Ltd is a Strong Buy with an average price target of $1.34.
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DGMLF market cap is currently $1.68B and has a P/E ratio of -184.21.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DGMLF in relation to earlier this year.
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De Grey Mining Ltd is a Western Australian based mining company that centres on the exploration of base and precious metals. The company’s primary focus lies in the Pilbara region on the Pilbara Gold Project, which has found to be prospective for gold mineralisation.
