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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.