Evolution Mining (CAHPF) Receives a Rating Update from a Top Analyst

Ord Minnett analyst Paul Kaner maintained a Hold rating on Evolution Mining today and set a price target of A$10.50. The company’s shares closed yesterday at $7.25.

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Kaner covers the Basic Materials sector, focusing on stocks such as Evolution Mining , Sandfire Resources Limited, and Northern Star Resources Ltd. According to TipRanks, Kaner has an average return of 36.9% and a 70.79% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Evolution Mining with a $6.41 average price target, which is a -11.59% downside from current levels. In a report released yesterday, Citi also maintained a Hold rating on the stock with a A$11.00 price target.

Based on Evolution Mining ‘s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.32 billion and a net profit of $561.08 million. In comparison, last year the company earned a revenue of $1.88 billion and had a net profit of $325.4 million

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CAHPF in relation to earlier this year.