Jefferies lifts PT on Australia's Gold Road Resources

Gold Road Resources

21/04/2024 20:13

** Analysts at Jefferies raise price target on Australia's
Gold Road Resources  GOR.AX  to A$2.2 from $2.15
    ** Brokerage says the gold miner's current share price
appears to be pricing in its confirmed inorganic growth
ambitions which creates a discount to the long-term stock value 
    ** Jefferies reiterates "buy" on the stock
    ** Adds co well positioned to fund a large part of any
potential deal as it exits quarter with A$146 mln ($93.69
million) of net cash and an undrawn A$150 mln debt facility
    ** GOR remains Jefferies' preferred pick among junior Aussie
gold miners
    ** Stock has fallen 18.1% this year, as of last close 


($1 = 1.5584 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))