Stanmore Resources (A$1.96) ADD TP A$3.20
Hitting the volume, FY result expectations
2Q production was (importantly) in line with guidance although we'd be surprised if CY22 cost guidance wasn't lifted at the FY result. Up to 31% reductions in our 2022 quarterly HCC forecasts drive a 17% reduction in CY22 EBITDA and our lowered valuation. We recognise steel market headwinds, but think the turnover of March entitlement stock is also exacerbating weakness. SMR looks a compelling medium-term opportunity trading on only 0.61x P/NPV. Target date for release of the FY result is currently August 12
Ann: Quarterly Activities Report, page-2
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Last
$3.19 |
Change
0.110(3.57%) |
Mkt cap ! $2.843B | |||
| Open | High | Low | Value | Volume |
| $3.06 | $3.19 | $3.06 | $2.847M | 898.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1907 | $3.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.19 | 4215 | 1 |
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| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| SMR (ASX) Chart |