check out two broker reports out this month....! SAR is cheap as chips right now!
CIMB Securities 11-Mar-13
It's been a while since the broker has updated on Saracen and in the interim, the price target has lifted 3c to 72c and the Buy call has been maintained.
In its latest note, CIMB points out that the addition of high grade Red October ores and the approval of the Carosue Dam processing plant is starting to clearly show there is value upside in the stock once the expansion risk is mitigated.
Buy
BA-Merrill Lynch 06-Mar-13
BA-Merrill Lynch has tempered expectations for the gold price and hence downgraded Saracen to Underperform from Neutral. The price target is 37c from 45c.
In a less favourable gold price environment, the broker believes leveraged names are not the best way to gain exposure to gold. Earnings forecasts for FY13-15 have been downgraded 7%, 10% and 12% respectively.
Downgrade to Underperform from Neutral
confidence, page-4
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