MGX - MOUNT GIBSON IRON LIMITED
Macquarie rates MGX as Upgrade to Outperform from Neutral (1) - Mount Gibson Iron has increased shipment rates and is on track to achieve and potentially surpass its FY23 guidance of 2.9m wmt. On Macquarie's forecasts the company generates around $700m in cash over the remaining life of the mine, which lifts to $1bn at spot.
The broker forecasts cash of $133m at the end of FY23, a 60% increase quarter on quarter. Rating is upgraded to Outperform from Neutral given the strong cash flow, and the target is raised to $0.60 from $0.50.
Target price is $0.60 Current Price is $0.48 Difference: $0.12 If MGX meets the Macquarie target it will return approximately 25% (excluding dividends, fees and charges). The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 0.00 cents and EPS of 9.50 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.05.
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 8.00 cents and EPS of 16.70 cents . At the last closing share price the estimated dividend yield is 16.67%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.87.
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Last
39.0¢ |
Change
0.005(1.30%) |
Mkt cap ! $475.1M |
Open | High | Low | Value | Volume |
38.5¢ | 39.0¢ | 38.0¢ | $733.2K | 1.905M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 123000 | 38.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
39.0¢ | 326622 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 123000 | 0.385 |
27 | 680477 | 0.380 |
9 | 238572 | 0.375 |
12 | 298267 | 0.370 |
2 | 4989 | 0.365 |
Price($) | Vol. | No. |
---|---|---|
0.390 | 326622 | 10 |
0.395 | 97000 | 6 |
0.400 | 175873 | 6 |
0.405 | 80000 | 2 |
0.410 | 102300 | 5 |
Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
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