http://www.eurekareport.com.au/broker-alerts/2123?page=2
Macquarie upgrades SLR to Neutral from Underperform
Wednesday, January 28, 2015 - 16:12
Silver Lake's Dec Q production came in ahead of forecasts due to higher grades, but costs have blown out significantly, the broker notes, for various reasons. Deferring capex on Daisy and Cock-Eyed Bob will at least provide some cost relief.
Silver Lake nevertheless needs a mine plan incorporating higher grade open pit feed, the broker suggests. Target price falls to 23c from 30c but on yesterday's 20% share price plunge, the broker upgrades to Neutral.
Target price is $0.23 Current Price is $0.23 Difference: $0
If SLR meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges).
The company's fiscal year ends in June. Macquarie forecasts a full year FY15 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.56.
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