Macquarie rates AMI as Outperform
1 September 2022
Aurelia Metals' FY22 result was better than Macquarie expected, featuring a beat on earnings and free cash flow a lower net loss than expected. FY23 guidance will be provided with the September quarter update.
Aurelia has a healthy net cash position and the company expects to compete the Federation feasibility study and 2022 reserve and resource update later this quarter.
Macquarie remains optimistic on Aurelia's future -- underpinned by the Federation project -- which will eventually be the miners best asset in the broker's view. Outperform and 40c target retained.
Ord Minnett rates AMI as Buy
1 September 2022
FY22 results for Aurelia Metals were broadly as Ord Minnett expected and there were limited new insights due to pre-reporting.
The broker awaits FY23 guidance and the feasibility study for the Federation project, both due in September. The Federation project drives the majority of Ord Minnett's valuation.
The Buy rating and $0.70 target price are unchanged.
Target price is $0.70.Current Price is $0.26. Difference: $0.44 - (brackets indicate current price is over target). If AMI meets the Ord Minnett target it will return approximately 63% (excluding dividends, fees and charges - negative figures indicate an expected loss).
All the best.
KKR
AMI Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
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