West African-based gold miner WAF joined the ASX200 in July courtesy of some stellar gains from 2019 which transformed the stock into a $1.2bn business. This is a great example of not all stocks in one particular sector moving as one i.e. WAF has consolidated in 2022 while Newcrest (NCM) and Northern Star (NST) have tumbled by -30% & -21% respectively.
- We are looking for gold to bounce over the coming few months which should see WAF make fresh 2022 highs i.e. around 20% upside.
MM is mildly bullish WAF
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