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Wednesday, 1 February 2023AMI - AURELIA METALS LIMITED
Macquarie rates AMI as Outperform (1) - Aurelia Metals' December-quarter gold production outpaced Macquarie's forecasts by 2% and copper outpaced by 15%.
Lead production disappointed by -19% and zinc by -25%.
Management reiterated FY23 production and cost guidance and expected Final Development Consent in the March quarter, three months ahead of schedule.
FY23 EPS forecasts ease -9% and outer years are fairly steady.
Outperform rating and 20c target price retained.
Target price is $0.20 Current Price is $0.14 Difference: $0.055 If AMI meets the Macquarie target it will return approximately 38% (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 minus 2.00 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.25.
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.50 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.00.
Market Sentiment: 0.5All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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