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 $1.11.
Bowler covers the Basic Materials sector, focusing on stocks such as West African Resources Ltd, Gold Road Resources Ltd, and Regis Resources Limited. According to TipRanks, Bowler has an average return of 13.2% and a 59.68% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for De Grey Mining Ltd with a $1.41 average price target, a 27.03% upside from current levels. In a report released on April 13, Canaccord Genuity also maintained a Buy rating on the stock with a A$2.60 price target.
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DGMLF market cap is currently $1.72B and has a P/E ratio of -189.66.
Based on the recent corporate insider activity of 13 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 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.
