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MGX - Macquarie rates the stock as Outperform
BY BROKER NEWS - 14/02/2018 | VIEW MORE BROKER UPDATES

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MGX - MOUNT GIBSON IRON LIMITED


First half earnings were better than forecast, boosted by realised lump pricing. Earnings of $80m were 24% above Macquarie's estimates.

Macquarie notes development of Koolan Island is on track for first production in early 2019 which underpins the medium-term earnings outlook.

The broker retains an Outperform rating and $0.55 target.

Sector: Materials.

Target price is $0.55.Current Price is $0.42. Difference: $0.13 - (brackets indicate current price is over target). If MGX meets the Macquarie target it will return approximately 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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