JP Morgan rates GMG as Neutral - China Investment Corp. has provided $200m in finance for the company as it attempts to deal with its structural issues and the broker sees this as providing a valuation base of around 30c per share. The broker's valuation on the stock is around 75c but to realise this more work needs to be done to capitalise the group's balance sheet and so it retains its Neutral rating on the stock.
Target price is $0.76 Current Price is $0.42 Difference:$0.35 - (brackets indicate current price is over target). If GMG meets the JP Morgan target it will return approximately 83% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June. JP Morgan forecasts a full year FY09 dividend of 10.00 cents and EPS of -12.10 cents. At the last closing share price the estimated dividend yield is 24.10%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is -3.43.
Market Sentiment: 0.0
GMG Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
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