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Canaccord Genuity Thinks Gold Road Resources Ltd’s Stock is Going to Recover

The company’s shares closed last Wednesday at $0.77, close to its 52-week low of $0.77.

According to TipRanks.com, McCormack has 0 stars on 0-5 stars ranking scale with an average return of -14.3% and a 23.3% success rate. McCormack covers the Basic Materials sector, focusing on stocks such as Silver Lake Resources Limited, Northern Star Resources Ltd, and Ramelius Resources Limited.

Currently, the analyst consensus on Gold Road Resources Ltd is a Strong Buy with an average price target of $1.15, representing a 49.2% upside. In a report issued on July 7, Macquarie also maintained a Buy rating on the stock with a price target.

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Based on Gold Road Resources Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELKMF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gold Road Resources Ltd together with its subsidiaries, engages in the exploration and development of mineral properties in Australia.

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