Lihir Gold "outperform," target price raised
Thursday, December 06, 2007 2:45:20 PM ET
RBC Capital Markets
LONDON, December 6 (newratings.com) - Analysts at RBC Capital Markets maintain their
"outperform" rating on Lihir Gold Limited (ticker: LGL), while raising their estimates for the company. The target price has been raised from A$4.40 to A$4.50.
In a research note published this morning, the analysts mention that the estimate for the starting point of the gold forward curve has been raised by about $50 per oz. The significant weakness in Lihir Gold’s share price since mid-October presents an attractive investment opportunity, the analysts say. The company is expected to have more than $200 million in cash at the end of this year, RBC Capital Markets adds. The earnings estimates for 2008 and 2009 have been raised by 6% to $256 million and by 12% to $345 million, respectively.
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