These 2 ASX gold companies could rise more than 70%: Broker
Both of these companies have just released their quarterly reports, allowing analysts to recalibrate their expectations for earnings.
Broker UBS has issued new research reports on each company with bullish share price targets.
Let's see what they're saying.
Ramelius Resources Ltd (ASX: RMS)
Ramelius reiterated its full year guidance of 205,000-225,000 ounces of gold while releasing its quarterly report, and said it had produced 48,839 ounces for the quarter.
The company expects to increase production quarter on quarter during the year, at an all-in sustaining cost of $2150-$2350.
Ramelius' cash holdings increased over the quarter, growing from $650 million to $768 million.
The company also updated its four-year outlook, and now has a production target for FY30 of 600,000 ounces.
UBS said Ramelius' production was impacted by rain during the quarter and the company expected to be able to catch up to its usual run rate as the year progressed.
The broker said Ramelius' growth plans over the next four years would be "comfortably funded" given the company's cash flow, listed investments and current cash on hand.
UBS lifted its price target on Ramelius shares from $5.65 to $5.80, compared to the current price of $3.36.
If achieved this would constitute a 72.6% return if achieved.
Ramelius is valued at $6.34 billion.
Greatland Resources Ltd (ASX: GGP)
Greatland had what it called a "strong" quarter of gold production from its Western Australian operations, producing 70,131 ounces of gold and 2927 tonnes of copper at an all-in sustaining cost of $2925 per ounce.
The company said it was on track for full year production of 260,000-300,000 ounces of gold.
It had a closing cash balance of $1.31 billion at the end of the quarter, up $25 million.
Greatland Managing Director Shaun Day said it was a well-executed operational performance.
He added:
During the quarter, we achieved excellent process plant throughput, improved open pit productivity, increased underground ore output and record copper recoveries which culminated in both gold production and all-in sustaining cost performing better than plan. Greatland completed the quarter with a closing cash balance of $1,314 million and no drawn debt. An increase in cash build was achieved, notwithstanding significant investment in Telfer and Havieron growth capex, the ongoing surge in exploration and elevated tax payments. This balance sheet strength provides a robust platform to deliver our organic growth objectives through the development of Havieron and ongoing investment to grow and extend Telfer.
UBS said the quarterly result beat expectations on costs.
The broker has a price target of $16.90 on Greatland shares compared to $9.29 currently.
If achieved, the target price would be an 81.9% return. Greatland is valued at $6.27 billion.
The post These 2 ASX gold companies could rise more than 70%: Broker appeared first on The Motley Fool Australia.
Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2026