Good luck boys, seems some good upside according to analysts.
WGX - WESTGOLD RESOURCES LTD
Macquarie rates WGX as Initiation of coverage with Outperform (1) - Macquarie believes the current discount to peers stems from the mixed history of the company's asset base as well as FY19 results missing guidance. However, as the business simplifies the broker believes consistent delivery will be a positive catalyst.
Macquarie initiates coverage of Westgold Resources with an Outperform rating and $3.50 target. The company operates the Fortnum, Meekatharra and Cue gold assets in the Murchison district of WA.
Target price is $3.50 Current Price is $2.41 Difference: $1.09 If WGX meets the Macquarie target it will return approximately 45% (excluding dividends, fees and charges). The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 0.00 cents and EPS of 25.40 cents .At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.49. Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of 32.90 cents .At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.33.
WGX Price at posting:
$2.44 Sentiment: Buy Disclosure: Not Held
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