Canaccord Genuity Remains a Hold on Liontown Resources Limited (LIS)

Canaccord Genuity analyst Reg Spencer maintained a Hold rating on Liontown Resources Limited today and set a price target of A$1.10. The company’s shares closed yesterday at €0.59.

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Spencer covers the Basic Materials sector, focusing on stocks such as Iluka Resources Limited, Resolute Mining , and Kingsgate Consolidated Limited. According to TipRanks, Spencer has an average return of 15.9% and a 52.05% success rate on recommended stocks.

Currently, the analyst consensus on Liontown Resources Limited is a Moderate Sell with an average price target of €0.39.

Based on Liontown Resources Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of €197.16 million and a GAAP net loss of €178.03 million. In comparison, last year the company had a GAAP net loss of €33.9 million

Based on the recent corporate insider activity of 11 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 LIS in relation to earlier this year.