- An update from Shaw, note the bump in Target price to 7c.
- COMMENTARY
Metro Mining's 2023 market release was indicative of a mining company that has undergone a significant turnaround, suggest analysts at Shaw and Partners.
Sales guidance for 6.3 to 6.8mt by the end of 2024 is higher than the broker's 6mt forecast. As per the broker, such volumes with a margin of $17/t implies EBITDA of $107-115m.
Metro Mining is one of Shaw and Partners’ top ten small cap picks for 2024. The miner is a bauxite producer from its Bauxite Hills operation in far north Queensland.
Buy. Target price has gained 1c to 7c.
FORECAST
Shaw and Partners forecasts a full year FY24 dividend of 0.00 cents and EPS of 1.20 cents.
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.10 cents.
