Just got this in an email...
Mon, 29 May at 9:21 amMonday, 29 May 2023
AIS - AERIS RESOURCES LIMITED
Macquarie rates AIS as Initiation of coverage with Outperform (1) - Macquarie initiates coverage on Aeris Resources with an Outperform rating and $0.70 target. The company is the third largest copper producer by market capitalisation on the ASX and has an opportunity to fill a gap that was left by OZ Minerals after it was acquired by BHP Group ((BHP)), in Macquarie's opinion.
The broker forecasts copper production of 29,400t in FY23, growing to 34,200t in FY24. The acquisition of Round Oak Minerals in 2022 added new cash generating assets to the portfolio and there are now four in Australia, providing a diversified risk exposure across different mines and different commodities.
Target price is $0.70 Current Price is $0.41 Difference: $0.29 If AIS meets the Macquarie target it will return approximately 71% (excluding dividends, fees and charges). Current consensus price target is $0.83, suggesting upside of 102.4%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 8.30 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.94. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -8.3, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 0.00 cents and EPS of 8.70 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.71. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.4, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 4.4.
Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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