Macquarie analyst Andrew Bowler maintained a Buy rating on West African Resources Ltd (WFRSF – Research Report) today and set a price target of A$1.70. The company’s shares closed last Monday at $0.80.
According to TipRanks, Bowler is a 5-star analyst with an average return of 31.1% and a 65.79% success rate. Bowler covers the Basic Materials sector, focusing on stocks such as Westgold Resources Ltd, Ramelius Resources Limited, and Gold Road Resources Ltd.
Currently, the analyst consensus on West African Resources Ltd is a Moderate Buy with an average price target of $1.18.
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Based on West African Resources Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $0. In comparison, last year the company earned a revenue of $203 thousand and had a GAAP net loss of $1.59 million
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WFRSF in relation to earlier this year.
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West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project. The Group’s mineral portfolio also includes gold and copper-gold exploration permits in Burkina Faso. The company operates in two segments: Mining operations and Exploration.
