Goldman Sachs Sticks to Its Buy Rating for Westgold Resources (WGXRF)

Goldman Sachs analyst Hugo Nicolaci maintained a Buy rating on Westgold Resources today and set a price target of A$5.50. The company’s shares closed yesterday at $3.27.

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According to TipRanks, Nicolaci is a 4-star analyst with an average return of 15.6% and a 64.08% success rate. Nicolaci covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Vault Minerals Limited, and Genesis Minerals Limited.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Westgold Resources with a $3.26 average price target, representing a -0.31% downside. In a report released today, RBC Capital also maintained a Buy rating on the stock with a A$5.80 price target.

Based on Westgold Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $623.95 million and a GAAP net loss of $27.56 million. In comparison, last year the company earned a revenue of $363.1 million and had a net profit of $43.79 million

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WGXRF in relation to earlier this year.