Royal Nickel (RNX) Raised to “Buy” at Haywood Securities

Haywood Securities upgraded shares of Royal Nickel (TSE:RNX) from a hold rating to a buy rating in a report released on Wednesday morning. The firm currently has C$0.40 price target on the stock, up from their prior price target of C$0.15.

Royal Nickel stock opened at C$0.28 on Wednesday. Royal Nickel has a one year low of C$0.07 and a one year high of C$0.38.

Royal Nickel (TSE:RNX) last posted its quarterly earnings data on Wednesday, August 15th. The company reported C$0.02 EPS for the quarter. Royal Nickel had a negative net margin of 49.48% and a negative return on equity of 58.08%. The company had revenue of C$10.27 million during the quarter.

About Royal Nickel

RNC Minerals, a mineral resource company, engages in the acquisition, exploration, evaluation, and development of base and precious metal properties primarily in Canada. The company explores for nickel, copper, cobalt, gold, and precious metal deposits. Its principal properties are the Beta Hunt mine located in Kambalda, Western Australia; and the Dumont Nickel-Cobalt project with 233 contiguous mineral claims covering an area of 9,306.5 hectares located in the Abitibi mining camp, Quebec, as well as the Reed mine located in the Flin Flon, Manitoba.

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