Bell Potter Sees 90% Upside for Waratah Minerals Gold-Copper Stock
Bell Potter has retained its Speculative Buy recommendation on Waratah Minerals Ltd (ASX: WTM), an ASX gold-copper stock with a high-risk potential for significant returns.
WTM is a New South Wales-based company focused on gold and copper exploration and development. Its flagship project, the Spur gold-copper project, is located in the Lachlan Fold Belt, near Orange and the Cadia gold-copper operation owned by Newmont Corporation (ASX: NEM).
Bell Potter notes that recent drilling results at the Spur Project have been positive. WTM has announced further results from the Consols Zone, which showed a significant eastward and down-plunge extension of Consols, as well as a previously unrecognised shallow high-grade zone.
The broker also mentioned that multiple rigs remain active, indicating a steady news flow through the rest of CY26. Based on these developments, Bell Potter has retained its Speculative Buy recommendation with an improved price target of $1.15 for WTM.