Moelis analyst Paul Hissey maintained a Buy rating on Alkane Resources Ltd (ALKEF – Research Report) on April 5 and set a price target of A$1.00. The company’s shares closed last Thursday at $0.42.
Hissey covers the Basic Materials sector, focusing on stocks such as Gold Road Resources Ltd, AIC Mines Limited, and Silver Lake Resources Limited. According to TipRanks, Hissey has an average return of 4.0% and a 53.13% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alkane Resources Ltd with a $0.71 average price target, representing a 68.81% upside. In a report released on April 5, Petra Capital also maintained a Buy rating on the stock with a A$1.16 price target.
ALKEF market cap is currently $257.9M and has a P/E ratio of 12.66.
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Alkane Resources Ltd (ALKEF) Company Description:
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.
