As a result of recent share price weakness and the release of FY21 results, Macquarie upgrades its rating for Gold Road Resources to Neutral from Underperform, while retaining its $1.70 target price.
Profit was a $7.6m beat versus the broker’s estimate mainly due to a positive move in inventory. The final fully-franked dividend of 0.5cps was also higher than Macquarie expected.
Sector: Materials.
Target price is $1.70.Current Price is $1.62. Difference: $0.08 – (brackets indicate current price is over target). If GOR meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
