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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  West African Resources Limited    WAF   AU000000WAF6

WEST AFRICAN RESOURCES LIMITED

(WAF)
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Australia shares slip as U.S. and Europe COVID-19 cases jump

10/26/2020 | 12:35am EST

* U.S. & European COVID-19 outlook not great - analyst

* Energy stocks help limit losses

* Australia's Victoria state with zero COVID-19 case in 24 hours

Oct 26 (Reuters) - Australian shares dipped on Monday, with gold stocks leading losses, as a record rise in coronavirus cases in the United States and parts of Europe made investors nervous about a global economic recovery.

The S&P/ASX 200 index slipped 0.2% to close at 6,159.20. The benchmark fell 0.1% on Friday.

The United States saw its highest ever number of new COVID-19 cases on Friday and Saturday, with a Reuters tally showing hospitalizations are also rising and have hit a two-month high and deaths are trending upwards.

France registered a record rise in coronavirus infections on Sunday as a second wave of cases surges through Europe.

"The outlook is not great in terms of U.S. & European COVID-19 cases... it could lead to more restrictions that could restrict economic activity and hamper the recovery," said James Tao, market analyst at CommSec.

Sentiment was also weighed by uncertainty over the timeline of the U.S. coronavirus relief package, which swung global indexes all through last week, with House Speaker Nancy Pelosi and President Donald Trump stuck in a deadlock over negotiations.

"It looks like it's (U.S. stimulus) going to be a prolonged process that could be uncertain for a number of weeks. I think markets are beginning to worry about it," said Mathan Somasundaram, Chief Executive of Deep Data Analytics.

Limiting losses in markets, Australia's second-most populous state, Victoria said on Monday it had gone 24 hours without detecting any new COVID-19 cases, raising hopes that a stringent lockdown of Melbourne will be eased.

Gold stocks finished 1.1% lower, as bullion prices fell due to a stronger dollar. Chalice Gold Mines and West African Resources each lost about 5%.

A gainer was the energy index, which finished 0.2% higher, with Santos climbing 0.4% and Oil Search gaining 0.7%.

New Zealand's benchmark S&P/NZX 50 index finished up 0.5% at 12,470.34.

(Reporting by Nikhil Subba in Bengaluru; Editing by Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHALICE GOLD MINES LIMITED 4.91% 4.06 End-of-day quote.1,704.44%
GOLD -0.06% 1810.12 Delayed Quote.17.24%
LONDON BRENT OIL -0.42% 47.04 Delayed Quote.-27.86%
S&P/ASX 200 -0.09% 6582.5 Real-time Quote.-2.49%
SANTOS LIMITED -1.44% 6.16 End-of-day quote.-24.69%
SILVER -0.66% 23.672 Delayed Quote.27.04%
WEST AFRICAN RESOURCES LIMITED -2.21% 0.885 End-of-day quote.105.81%
WTI -0.06% 44.12 Delayed Quote.-26.43%
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Financials
Sales 2020 360 M 265 M 265 M
Net income 2020 128 M 94,4 M 94,4 M
Net Debt 2020 156 M 115 M 115 M
P/E ratio 2020 6,34x
Yield 2020 -
Capitalization 813 M 598 M 600 M
EV / Sales 2020 2,69x
EV / Sales 2021 1,10x
Nbr of Employees 375
Free-Float 87,1%
Chart WEST AFRICAN RESOURCES LIMITED
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Technical analysis trends WEST AFRICAN RESOURCES LIMITED
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TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 1,28 AUD
Last Close Price 0,93 AUD
Spread / Highest target 67,6%
Spread / Average Target 38,7%
Spread / Lowest Target 18,9%
EPS Revisions
Managers
NameTitle
Richard Hyde Executive Chairman & Chief Executive Officer
Lyndon George Hopkins Chief Operating Officer & Executive Director
Padraig O'Donoghue Chief Financial Officer & Secretary
Rodney Lloyd Leonard Independent Non-Executive Director
Nigel Spicer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
WEST AFRICAN RESOURCES LIMITED105.81%571
NEWMONT CORPORATION35.37%47 435
BARRICK GOLD CORPORATION22.10%40 306
POLYUS104.44%25 663
WHEATON PRECIOUS METALS CORP.29.74%17 640
NEWCREST MINING LIMITED-10.98%16 115