Ramelius Resources have released more detail on the company’s September quarter forecast.
Morgans updates estimates to also reflect the strong run in the gold price since the last update. The company’s extra detail is considered conservative but overall the increased estimated production should leave room for a mine life extension.
Morgans sees upside for the share price, based on the gold price in Australian dollars and modest exploration success. The analyst expects good news as exploration activities and feasibility studies in the current year progress.
The Add rating is unchanged and the target price is increased to $2.49 from $2.12.
Sector: Materials.
Target price is $2.49.Current Price is $2.12. Difference: $0.37 – (brackets indicate current price is over target). If RMS meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
