West African Resources' Stock Rally Has Further to Run -- Market Talk

Dow Jones

03-07

2157 GMT - West African Resources' share price may have shot up 19% in two days after its annual result beat expectations, but Barrenjoey says the miner remains its top stock pick among West African gold companies. "One year forward earnings multiples are still eye watering," says analyst Richard Knights. The bank assumes West African Resources offers a free cash flow yield of 32% in 2026. "If Kiaka is delivered in the September quarter of 2025 as expected, we don't believe this discount will persist, even considering the market's concerns around sovereign risks in Burkina Faso," Barrenjoey says. Its price target rises 3.9%, to A$2.65/share. West African Resources ended Thursday at A$2.11. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

March 06, 2025 16:57 ET (21:57 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The bank assumes West African Resources offers a free cash flow yield of 32% in 2026. \"If Kiaka is delivered in the September quarter of 2025 as expected, we don't believe this discount will persist, even considering the market's concerns around sovereign risks in Burkina Faso,\" Barrenjoey says. Its price target rises 3.9%, to A$2.65/share. West African Resources ended Thursday at A$2.11. 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The bank assumes West African Resources offers a free cash flow yield of 32% in 2026. \"If Kiaka is delivered in the September quarter of 2025 as expected, we don't believe this discount will persist, even considering the market's concerns around sovereign risks in Burkina Faso,\" Barrenjoey says. Its price target rises 3.9%, to A$2.65/share. West African Resources ended Thursday at A$2.11. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WAF.AU":"WEST AFRICAN RESOURCES LTD","BK7506":"金矿股","BK7104":"黄金"},"translate_title":"西非资源公司股价将进一步上涨——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WAF.AU":0.9},"content_text":"2157 GMT - West African Resources' share price may have shot up 19% in two days after its annual result beat expectations, but Barrenjoey says the miner remains its top stock pick among West African gold companies. \"One year forward earnings multiples are still eye watering,\" says analyst Richard Knights. The bank assumes West African Resources offers a free cash flow yield of 32% in 2026. \"If Kiaka is delivered in the September quarter of 2025 as expected, we don't believe this discount will persist, even considering the market's concerns around sovereign risks in Burkina Faso,\" Barrenjoey says. Its price target rises 3.9%, to A$2.65/share. 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