Australia's Gold Road Resources hits 1-month high; Bell Potter hikes PT

Gold Road Resources

02/02/2023 24:51

** Shares of Gold Road Resources  GOR.AX  rise as much as
6.3% to A$1.7, posting their best session since Dec. 21
    ** Bell Potter hikes price target to A$1.95 from A$1.75,
maintains "buy" rating 
    ** Bell Potter expects better performance from co's
investment in Gruyere mine in Perth and see earnings growth in
CY23
    ** The gold-focused mine operator, however, missed Bell
Potter's quarterly production estimates 
    ** GOR said on Tuesday its Gruyere operation produced 74,201
ounces of gold for the December quarter, compared with 83,635
ounces produced in prior quarter
    ** Five of nine analysts rate the stock "buy" or higher,
three "hold" and one "sell" or lower; their median PT is A$1.75–
Refinitiv Eikon data 
    ** Stock has fallen 5.3% so far this year, as of last close
 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))