EVOLUTION MINING LIMITED ((EVN)) Upgrade to Outperform from Neutral by Macquarie and Upgrade to Neutral from Underperform by Credit Suisse .
The company appears set to commit to the underground development of Cowal. Along with plant extensions and upgrades this should deliver on the long-term goal of a sustainable 300,000 ounces per annum run rate, Macquarie expects.
Macquarie upgrades FY19 and FY20 earnings estimates by 8% and 3% respectively. The broker believes the company is well-positioned to execute on organic as well as acquisition opportunities.
Rating is upgraded to Outperform from Neutral. Target is raised to $3.30 from $3.20.
Credit Suisse believes the emerging high-grade underground opportunity supports the company's aspirations to increase Cowal's production to 300,000 ounces per year for 20 years.
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Last
$3.87 |
Change
0.110(2.93%) |
Mkt cap ! $7.685B | |||
| Open | High | Low | Value | Volume |
| $3.87 | $3.90 | $3.80 | $34.54M | 8.974M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 182060 | $3.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.87 | 22974 | 5 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| EVN (ASX) Chart |