Morgan's raises target to $1.93, page-44

https://www.rameliusresources.com.au/wp-content/uploads/bsk-pdf-manager/2020/05/May-2020-%E2%80%93-Morgans-%E2%80%93-Market-Update-1.pdf

Not sure whether the Morgans Report has been posted but if this link doesn't work it can be found on the RMS website there is a table showing the sensitivity to the Gold Price and FX, my take on the table suggests that if FX hovers around current levels for every US$50.00 rise in POG that the share price should rise approximately 8c. The target price of $1.93 is based on a gold price of US$1650 and an exchange rate of 0.67 it also bakes in the existing hedge book. It would be nice to see Gold hit US$ 2000 on the basis of extrapolation the 8c per US$50 rise in POG that would add another 56c to the share price if we assume a steady US$/A$ FX rate. There are other factors to consider and the report does mention that there are expectations of positive news from the revised life of mine plan in late June.

Just my take on the Morgans Research DYOR - looking good IMO