This relates to CRM, but obviously very relevant to SMR
Some cream, not the cake
-We adjust our modelling inputs around volumes (lower), prices and costs (both
higher) and for the new QLD royalty regime to apply from July 1.
-These combined changes lower our valuation by 32cps (-11%) to $2.50ps,
equating to our revised target.
-CRN’s +50cps fall from its recent high, and its current P/NPV multiple of only 0.66x
therefore looks like an over-reaction and an opportunity.
-We think new QLD royalties remove an increment of “cream”, where CRN’s
compelling capital and dividend upside risks remain intact.
This relates to CRM, but obviously very relevant to SMR Some...
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Last
$3.16 |
Change
0.075(2.44%) |
Mkt cap ! $2.843B | |||
| Open | High | Low | Value | Volume |
| $3.06 | $3.19 | $3.06 | $1.274M | 405.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 11554 | $3.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.16 | 8886 | 24 |
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| Last trade - 15.32pm 07/10/2024 (20 minute delay) ? |
| SMR (ASX) Chart |