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Over the past 12 months, the St Barbara share price has dropped by 39%. The broker believes the St Barbara share price is significantly undervalued at this point in time. This represents an upside of close to 50% based on the current share price. This 1 minute countdown timer is available from Microsoft.
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Can St Barbara shares make a comeback?Īccording to ANZ Share Investing, one broker gave its take on the St Barbara share price in early May.įollowing the company’s third-quarter results, Macquarie slashed its price target by 6% to $1.70 per share. Download the 10 minute countdown timer > 1 minute countdown timer. Nonetheless, this could weigh on St Barbara’s margins as gold losses its value.
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This is because investors are shifting their assets from gold to government bonds as the yields become more attractive. In addition, the price of gold has tumbled 3.5% from last Friday to US$1,810 per ounce at the time of writing. On the other hand, shares in Australia’s largest gold miner Newcrest Mining Ltd (ASX: NCM) are down almost 5% in a week.
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St Barbara shares have been caught up in the whirlwind along with other gold resource companies.Īs such, Northern Star Resources Ltd (ASX: NST) shares touched a multi-year low of $7.69 yesterday. The general market sentiment remains negative amid sky-high inflation and possible bigger rate hikes. However, after heavy falls on the ASX on Tuesday, St Barbara shares closed 1.30% lower to $1.135. This is a sharp contrast to when the gold miner’s shares reached a year-to-date high of $1.64 on 14 March. The St Barbara Ltd (ASX: SBM) share price tanked to a 52-week low of $1.0775 yesterday.