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AMI – Macquarie rates the stock as Outperform

Aurelia Metals sustained a soft performance in the March quarter, with gold production well below Macquarie's estimates. This was because of an underperforming high-grade Chronos ore body.

Aurelia Metals sustained a soft performance in the March quarter, with gold production well below Macquarie’s estimates. This was because of an underperforming high-grade Chronos ore body.

Nevertheless, Macquarie expects a solid finish to FY19, with concentrate shipments returning to normal at Hera. Chronos is also expected to improve.

Outperform rating and $1 target maintained.

Sector: Materials.

Target price is $1.00.Current Price is $0.68. Difference: $0.32 – (brackets indicate current price is over target). If AMI meets the Macquarie target it will return approximately 32% (excluding dividends, fees and charges – negative figures indicate an expected loss)

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