Morgans ranks and reviews ASX gold stocks under coverage on a number of metrics to consider if relative valuations are fair.
The broker believes there has been good progress at Cowal underground and Red Lake projects, which is likely to underpin Evolution Mining’s next stage of growth. The Hold rating and $4.68 target are retained.
Target price is $4.68.Current Price is $4.88. Difference: ($0.20) – (brackets indicate current price is over target). If EVN meets the Morgans target it will return approximately -4% (excluding dividends, fees and charges – negative figures indicate an expected loss).