First-half earnings (EBITDA) were in line with Credit Suisse estimates. Cash is being preserved to reduce the debt funding for Sissingue and support the development of Yaoure.
The company has guided to flat production in the second half but at lower cost. Credit Suisse maintains an Outperform rating and $0.57 target.
Sector: Materials.
Target price is $0.57.Current Price is $0.43. Difference: $0.14 – (brackets indicate current price is over target). If PRU meets the Credit Suisse target it will return approximately 25% (excluding dividends, fees and charges – negative figures indicate an expected loss).
