Bell Potter rates ARU as Downgrade to Hold from Buy (3) - The...

Bell Potter rates ARU as Downgrade to Hold from Buy (3) - The Australian government has approved up to US$533m in funding to Arafura Rare Earths through debt facilties. As per Bell Potter, this includes the previously announced $350m alongside additional facilities intended for the ramp up and cost overruns at Nolans.
The broker feels funding risks remain for Arafura Rare Earths, and despite the new facilities providing support expects more is needed to get the project up and runnings. As of late December, the broker had estimated $1.83bn was needed in funding to advance Nolans.The company remains comitted to completing financing in the third quarter, but Bell Potter considers it more likely this will run into the fourth quarter.
The rating is downgraded to Hold from Buy and the target price of 19 cents is retained.Target price is $0.19 Current Price is $0.20 Difference: minus $0.015 (current price is over target).
If ARU meets the Bell Potter target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss). The company's fiscal year ends in June.Forecast for FY24:Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 3.57 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.74.Forecast for FY25:Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.15 cents .
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.83.Market Sentiment: 0.0All consensus data are updated until yesterday.
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I get a feeling they want buy ARU !