IGO (ASX:IGO) share price higher after completing $1.9bn transformational transaction
Clean energy is the way forward for this miner…
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.
Regis Resources Limited (ASX: RRL) could push higher today after the gold price strengthened overnight. According to CNBC, the spot gold price is up 0.4% to US$1,770.70 an ounce. Despite this gain, the precious metal had its worst month in more than four years due to a hawkish US Federal Reserve.
Telstra given buy rating
The
Telstra Corporation Ltd(ASX: TLS) share price jumped on Wednesday after announcing the sale of its tower assets. Analysts at Goldman Sachs have responded to the news by reiterating their buy rating and $4.20 price target on its shares. Goldman notes that Telstra received more than it was expecting for the assets.
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Regis Resources Limited (ASX: RRL) could underperform today after the gold price softened overnight. According to CNBC, the spot gold price is down 0.1% to US$1,775.70 an ounce. While rate hike concerns were eased by the US Fed yesterday, it wasn’t enough to lift the price of the precious metal.
South32 given conviction buy rating
The
South32 Ltd(ASX: S32) share price could be undervalued according to analysts at Goldman Sachs. This morning the broker reiterated its conviction buy rating and lifted its price target to $3.80. This compares to the current South32 share price of $2.87. It explained: “We increase our FY21-23 EPS estimates by 1%/11%/20% and NAV by 19% to A$3.86/sh to reflect changes to the GS commodities team’s aluminium price forecasts, and raise our 12-month TP 12% to A$3.8/sh.”
Great Southern Mining Ltd (ASX:GSN) is confident that its strategic landholdings in Tier 1 Australian gold districts have genuine potential for major gold, copper, silver and nickel discoveries.
Notably, GSN was recently granted all exploration licences at the East Laverton Nickel Project (Southern Star, Cox’s Find, Mon Ami deposits) and now has exposure to gold at all of its projects and the added benefit of copper and other metals in North Queensland (Edinburgh Park), as well as nickel-sulphide at East Laverton.
The company is now planning a 5,000 metres reverse circulation(RC) drilling for the Southern Star deposit in the Laverton district.