Story by James Mickleboro
Do you want big returns and exposure to the boominggoldprice?
Well, I have good news for you. That's because one leading broker is tipping one ASX gold stock to double in value from current levels.
Which ASX gold stock?
Analysts at Bell Potter believe thatAlkane Resources Limited(ASX: ALK) is a gold stock to buy right now.
The broker highlights that the gold miner has just released the scoping study for the Boda-Kaisar Project in New South Wales.
While a touch softer than its expectations, the broker sees the study results as "a good outcome." It said:
Bell Potter agrees with management that Boda-Kaiser can support a large gold mining operation thanks to strong commodity prices. It adds:
Big returns
Bell Potter then concludes by explaining why it thinks its shares could re-rate to higher multiples in the future. It said:
The postMeet the ASX gold stock that could double in valueappeared first onThe Motley Fool Australia.
Should you invest $1,000 in Alkane Resources Limited right now?
Before you buy Alkane Resources Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the5 best stocksfor investors to buy right now... and Alkane Resources Limited wasn't one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys...
See The 5 Stocks*Returns as of 10 July 2024
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Motley FoolcontributorJames Mickleborohas no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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