Pilbara Minerals (ASX: PLS) dropped its September quarter report this morning and the numbers were quite soft vs. consensus expectations.
Production of 144.2kt, down 2% and below the 159.4kt expected
Unit operating cost of $747 a tonne, up 18% and below the $609 expected
Realised prices of US$2,240 a tonne, down 47%
Cash balance of $3.0bn, up 121%
The higher costs reflected "operational readiness costs in support of the P680 expansion project and lower production volume relative to Q4 FY23."
Last month, Macquarie retained an Outperform rating on PLS with a $7.30 price target. One of my key issues with Macquarie is that the analysts assumed an average spodumene price of US$5,000 for FY24. So either the above price doubles by financial year end. Or maybe its more logical to halve Macquarie's price target?
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Last
$1.78 |
Change
0.070(4.09%) |
Mkt cap ! $5.727B | |||
| Open | High | Low | Value | Volume |
| $1.71 | $1.81 | $1.70 | $88.60M | 50.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4805 | $1.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 20000 | 2 |
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| Last trade - 16.19pm 21/07/2025 (20 minute delay) ? |
| PLS (ASX) Chart |