Alkane Resources Ltd (ALKEF) was downgraded to a Hold Rating at MA Financial Group

According to TipRanks, Hissey is a 5-star analyst with an average return of 36.1% and a 77.27% success rate. Hissey covers the Basic Materials sector, focusing on stocks such as Hillgrove Resources Limited, Greatland Resources, and AIC Mines Limited.

Currently, the analyst consensus on Alkane Resources Ltd is a Moderate Buy with an average price target of A$1.97, implying a 9.55% upside from current levels. In a report released yesterday, UBS also downgraded the stock to a Hold with a A$2.00 price target.

Based on Alkane Resources Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$403.95 million and a net profit of A$64.9 million. In comparison, last year the company earned a revenue of A$121.5 million and had a net profit of A$13.16 million