Latest news with #PetraCapital
Business Insider
26-06-2025
- Business
- Business Insider
Analysts Offer Insights on Materials Companies: Westgold Resources (OtherWGXRF) and Bluescope Steel (OtherBLSFF)
Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Westgold Resources (WGXRF – Research Report) and Bluescope Steel (BLSFF – Research Report). Confident Investing Starts Here: Westgold Resources (WGXRF) Petra Capital analyst David Brennan maintained a Buy rating on Westgold Resources yesterday and set a price target of A$4.74. The company's shares closed last Wednesday at $1.90. Brennan has an average return of 18.4% when recommending Westgold Resources. According to Brennan is ranked #3734 out of 9653 analysts. Westgold Resources has an analyst consensus of Strong Buy, with a price target consensus of $2.66, a 39.9% upside from current levels. In a report issued on June 23, Canaccord Genuity also maintained a Buy rating on the stock with a A$4.40 price target. Bluescope Steel (BLSFF) Citi analyst Paul McTaggart maintained a Hold rating on Bluescope Steel today and set a price target of A$25.00. The company's shares closed last Monday at $15.07. According to McTaggart is a 4-star analyst with an average return of 8.9% and a 53.6% success rate. McTaggart covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, Sandfire Resources Limited, and Iluka Resources Limited. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bluescope Steel with a $17.93 average price target.
Yahoo
19-06-2025
- Business
- Yahoo
Meeka Metals secures $39m for Murchison gold project expansion
Australian gold mining company Meeka Metals has received firm commitments to secure A$60m ($39m) through a placement backed by both existing and new institutional investors. The funds raised will be directed towards accelerating the next phase of development at the Murchison gold project in Western Australia (WA). The placement was conducted at A$0.15 per share, representing a 4.1% discount to the 20-day volume-weighted average price (VWAP) and a 10.3% discount to the ten-day VWAP. Meeka Metals will issue a total of 400 million shares under the placement, utilising its existing capacity under ASX Listing Rules 7.1 and 7.1A. All new shares issued will rank equally with the current shares. Meeka managing director Tim Davidson said: 'With this funding in place the company is now focused on maximising the expanded open-pit mining opportunity, confirming the pathway to bring forward production with increased processing capacity and defining further growth opportunities with the drill bit.' The proceeds from the placement, combined with Meeka Metals' existing cash reserves, are earmarked for several strategic growth initiatives. These include the expansion and acceleration of open-pit operations through the mobilisation of a third mining fleet, acceleration of underground drilling programmes and the validation of a processing expansion pathway that exceeds the current capacity of 600,000 tonnes per annum (tpa). Petra Capital served as the sole lead manager and bookrunner for the placement, with Morgans Corporate acting as a co-manager. The Murchison gold project, which received final approval for development in September 2024, houses a large, high-grade, 1.2 million ounces at three grams per tonne gold mineral resource on granted mining leases. The project's definitive feasibility study released in December 2024 focuses on restarting the fully permitted Andy Well mill. The study outlined a ten-year production plan at up to 76,000oz per year. "Meeka Metals secures $39m for Murchison gold project expansion" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
19-06-2025
- Business
- Business Insider
Horizon Minerals Ltd (I6R) Receives a Buy from Petra Capital
Petra Capital analyst David Brennan maintained a Buy rating on Horizon Minerals Ltd (I6R – Research Report) today and set a price target of A$0.12. The company's shares closed last Monday at €0.02. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Brennan covers the Basic Materials sector, focusing on stocks such as Meeka Gold Limited, Black Cat Syndicate Ltd., and Astral Resources NL. According to TipRanks, Brennan has an average return of 9.4% and a 59.43% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Horizon Minerals Ltd with a €0.07 average price target.
Business Insider
16-06-2025
- Business
- Business Insider
Petra Capital Sticks to Their Hold Rating for Close the Loop Ltd. (CLG)
Petra Capital analyst Liam Cummins maintained a Hold rating on Close the Loop Ltd. (CLG – Research Report) on June 13 and set a price target of A$0.05. The company's shares opened today at A$0.06. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Cummins is an analyst with an average return of -3.2% and a 33.33% success rate. Close the Loop Ltd. has an analyst consensus of Hold, with a price target consensus of A$0.10, implying a 66.67% upside from current levels. In a report released on June 12, Shaw and Partners also maintained a Hold rating on the stock with a A$0.10 price target. Based on Close the Loop Ltd.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$99.19 million and a GAAP net loss of A$765 thousand. In comparison, last year the company earned a revenue of A$103.13 million and had a net profit of A$4.93 million
Business Insider
12-06-2025
- Business
- Business Insider
Petra Capital Sticks to Their Buy Rating for Austin Engineering (AUSTF)
In a report released today, James Lennon from Petra Capital maintained a Buy rating on Austin Engineering (AUSTF – Research Report), with a price target of A$0.59. The company's shares closed yesterday at $0.25. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Lennon is a 4-star analyst with an average return of 14.4% and a 48.44% success rate. Lennon covers the Industrials sector, focusing on stocks such as Austin Engineering , Austal , and Bhagwan Marine Ltd.. Currently, the analyst consensus on Austin Engineering is a Moderate Buy with an average price target of $0.46, implying an 81.60% upside from current levels. In a report released yesterday, Shaw and Partners also maintained a Buy rating on the stock with a A$0.60 price target.
