Fintel reports that on August 8, 2024, ORD MINNETT downgraded their outlook for Alkane Resources (ASX:ALK) from Buy to Hold.
Analyst Price Forecast Suggests 48.96% Upside
As of August 6, 2024, the average one-year price target for Alkane Resources is $0.78/share. The forecasts range from a low of $0.56 to a high of $1.16. The average price target represents an increase of 48.96% from its latest reported closing price of $0.52 / share.
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The projected annual revenue for Alkane Resources is 171MM, a decrease of 8.26%. The projected annual non-GAAP EPS is 0.06.
What is the Fund Sentiment?
There are 40 funds or institutions reporting positions in Alkane Resources. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ALK is 0.04%, an increase of 4.24%. Total shares owned by institutions decreased in the last three months by 0.24% to 48,101K shares.
What are Other Shareholders Doing?
GDXJ - VanEck Vectors Junior Gold Miners ETF holds 20,335K shares representing 3.37% ownership of the company. In its prior filing, the firm reported owning 20,252K shares , representing an increase of 0.40%. The firm decreased its portfolio allocation in ALK by 11.22% over the last quarter.
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 5,847K shares representing 0.97% ownership of the company. No change in the last quarter.
VTMGX - Vanguard Developed Markets Index Fund Admiral Shares holds 3,627K shares representing 0.60% ownership of the company. No change in the last quarter.
Dfa Investment Trust Co - The Asia Pacific Small Company Series holds 2,715K shares representing 0.45% ownership of the company. No change in the last quarter.
DISVX - Dfa International Small Cap Value Portfolio - Institutional Class holds 2,415K shares representing 0.40% ownership of the company. In its prior filing, the firm reported owning 2,297K shares , representing an increase of 4.89%. The firm increased its portfolio allocation in ALK by 9.41% over the last quarter.
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This story originally appeared on Fintel.
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