Citi Reaffirms Their Sell Rating on 29metals Ltd. (29M)
Citi analyst Kate McCutcheon maintained a Sell rating on 29metals Ltd. (29M – Research Report) yesterday and set a price target of A$0.15. The company's shares closed yesterday at A$0.25.
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According to TipRanks, McCutcheon is a 4-star analyst with an average return of 7.6% and a 61.22% success rate. McCutcheon covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Evolution Mining , and Mineral Resources Limited.
29metals Ltd. has an analyst consensus of Hold, with a price target consensus of A$0.23.
Based on 29metals Ltd.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$308.04 million and a GAAP net loss of A$68.42 million. In comparison, last year the company earned a revenue of A$209.82 million and had a GAAP net loss of A$133.8 million
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