- Equity Espresso
- Posts
- Gold Road Resources (ASX: GOR) Broker Ratings
Gold Road Resources (ASX: GOR) Broker Ratings
Equity Espresso
March 20, 2025 • Estimated Reading Time: 3 minutes
Gold Road Resources
Broker Ratings
Updated: March 20, 2025
Gold Road Resources (ASX: GOR) said on Tuesday that its Gruyere gold mine output would drop to 70,000-73,000/oz in the March quarter, down from 91,631/oz in December, due to two conveyor belt failures and unexpected primary crusher maintenance.
Gold Road Resources Broker Ratings
Date | Broker | Rating | Price Target |
|---|---|---|---|
19/03/2025 | Bell Potter | Buy | $2.95 |
19/03/2025 | Macquarie | - | - |
24/02/2025 | UBS | Buy | $3.10 |
24/02/2025 | Ord Minnett | Holf | $2.50 |
Bell Potter maintains its Buy rating and $2.95 target price for Gold Road Resources despite the company reporting lower-than-expected 1Q25 production due to crusher maintenance and conveyor belt failures. The broker notes the company has maintained its FY25 gold production guidance of 325-355koz and believes the quarterly shortfall could be compensated later in the year through higher ore grades and processing plant upgrades.
Macquarie has reduced its 2025 EPS estimates for Gold Road Resources by 18% following the company's preliminary 1Q25 production update of 70-73koz, which fell 18% below the broker's estimate and 16% below consensus. The broker notes the production shortfall was attributed to maintenance issues with the primary crusher and the failure of two conveyor belts.
UBS has maintained its Buy rating for Gold Road Resources with a price target of $3.10, keeping its financial forecasts steady with Gruyere production guidance of 325-355koz in 2025 at an AISC of $2,400-2,600/oz. The broker notes management's optimistic growth outlook, with production projected to increase by 20% over the next three years.
Ord Minnett has downgraded Gold Road Resources to Hold from Buy with a target price of $2.50, noting that the company's FY24 underlying net profit was 6% below the broker's forecast, primarily due to higher depreciation and amortisation costs.
Want more stock market information like this?
Sign up for our daily stock market newsletter:
DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and should not be considered financial advice. It is not intended to encourage you to buy/sell assets or make economic decisions. We strongly recommend conducting your own research before making any investment.