This stock should be nearer the $1 mark - it is a producer Hanging on to this - this has so much potential. May even be a takeover target for OZ Minerals who also operate in that part of the world
Pan Australian Resources (PNA): RBC Capital Markets Outperform recommendation Share price target of $1.40 Last traded at $1.065
A LIFT in its long-term price forecast for copper has meant a change in the recommendation for Pan Australian Resources by RBC, moving from sector perform to outperform. RBC's new copper price forecast is now US25c-50c per pound higher for all years while its long-term price forecast has moved US20c per pound higher to $US1.50 per pound. "As a result, we have significantly upgraded earnings forecasts for Pan Australian, raising 2008 by 23 per cent to $US92 million, 2009 by 17 per cent to $US136 million and 2010 by 21 per cent to $US148 million," RBC Sydney analysts said recently in a note to clients. "Pan Australian offers quality exposure to copper leverage and a wide open register makes it vulnerable to takeover."
PNA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
