Australia's Gold Road extends record rally on defying $2.1 bln Gold Fields bid

Gold Road Resources

27/03/2025 03:59

** Shares of Gold Road Resources GOR.AX rallied as much as 6.4% to a record A$3.00

** GOR, on Monday, rejected South African rival Gold Fields' GFIJ.J $2.1 billion buyout bid because it believed the offer materially undervalued co

** Stock third-biggest gainer in the benchmark S&P ASX 200 index .AXJO

** Shares have set consecutive record highs for the past three trading sessions

** GOR currently up 4%, extending its four-session bull run

** 5 of 11 analysts rate the stock "Buy" or higher, 5 "Hold" and 1 "Sell"; their median PT is A$2.7 – LSEG data

** Stock up 43% this year, including the day's move, vs a 2.4% decline in AXJO

 (Reporting by Roushni Nair in Bengaluru)

 ((Roushni.nair@thomsonreuters.com;))