Aurelia Metals posted results in the first half that exceeded Ord Minnett's expectations. EBITDA was up 50%, reflecting lower costs and better pricing.
The broker assesses the balance sheet, coupled with operating cash flow, should easily fund organic growth projects. The stock is considered a compelling opportunity and a Speculative A Buy rating is maintained. Target is unchanged at $0.31.
Macquarie rates AMI as Outperform
27 February 2025
Aurelia Metals delivered first half net profit that was in line with Macquarie's estimates. The period ahead is rich in catalysts, the broker observes, with the Great Cobar study and Peak plant expansion FID expected before the end of FY25.
Additionally, there is commercial production at Federation mid year. The business has returned to profitability after an extended period of losses and the broker retains an Outperform rating with a $0.25 target.
All the best.
KKR
AMI Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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