Risk factor
Very high price volatility
Profitability factor
Very favourable analyst view
About
Carnaby Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral properties in Australia. The company explores for gold, lithium, copper, nickel, platinum group elements, and base metal deposits. Its flagship property is the Greater Duchess Copper Gold Project covering an area of approximately 1,924 square kilometers located in Queensland. The company was formerly known as Berkut Minerals Limited and changed its name to Carnaby Resources Limited in May 2019. Carnaby Resources Limited was incorporated in 2016 and is based in Subiaco, Australia.
Company Valuation
Based on key historical and expected multiples, the stock is slightly overvalued relative to its peers. In particular, the stock is 'cheap' on EV/EBITDA.
Target Price
The average target price of CNB.AX is 0.92 and suggests 87.8% upside potential. Usually, this means a BUY recommendation among investment firms, or a recommendation to in