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Western Areas (ASX:WSA)‘s stock had its “outperform” rating reaffirmed by stock analysts at RBC Capital in a report issued on Wednesday. They currently have a $5.50 price target on the stock.

Western Areas (ASX:WSA) traded up 2.07% during mid-day trading on Wednesday, hitting A$4.930. 2,009,696 shares of the company’s stock traded hands. Western Areas has a 1-year low of A$1.940 and a 1-year high of A$5.220. The stock’s 50-day moving average is A$4.92 and its 200-day moving average is A$4.28. The company has a market cap of A$1.145 billion and a P/E ratio of 37.73.

Western Areas Limited, formerly Western Areas NL, is an Australia-based nickel mining company. It is engaged in mining, processing and sale of nickel sulphide concentrate, the continued feasibility and development of the high grade nickel mines and the exploration for nickel sulphides, and platinum group metals.

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