Morgans ranks and reviews ASX gold stocks under coverage on a number of metrics to consider if relative valuations are fair.

Despite Red 5 continuing to miss with production from Darlot, the broker sees most value coming from the King of the Hills project, where the company is already progressing development. While likely to disappoint on near-term production, the analyst sees long-term value.

The Add rating and $0.31 target are retained.

Sector: Materials.

Target price is $0.31.Current Price is $0.19. Difference: $0.12 - (brackets indicate current price is over target). If RED meets the Morgans target it will return approximately 39% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena