Aurelia Metals Rallies Hard as Investor Sentiment Shifts Source:...

Aurelia Metals Rallies Hard as Investor Sentiment Shifts
Source: Dow Jones Institutional News

Investor sentiment toward Aurelia Metals appears to have shifted from a "wait and see" approach on operational concerns to a view that the worst is behind the gold miner, evidenced by a 66% share-price rally over the past month. Ord Minnett drops Aurelia to accumulate from buy, although its share price lifts 22% to A$0.55/share on a brighter outlook. "Recent exploration updates have broadly confirmed our thesis of near-term mine life extensions at higher grade driving a valuation rerate," Ord Minnett says. Aurelia's maiden resource at the Federation gold deposit offers an attractive option to extend the life of its Hera mine, given its exceptionally high grade. "Each year of mine life adds A$0.08 to our discounted cash flow," Ord Minnett says. Aurelia ended trading on Tuesday at A$0.515.

Aurelia Metals Target Price Raised 40% to A$0.70/Share by Macquarie