Morgans rates ORE as Add (1) -
The company has reduced its projected production rate for the June half, with the issue being the profile of the lithium concentration in the evaporation ponds and not enough in the harvest ponds to feed the plant.
Morgans adjusts its model to account for the lower production rate. Target is reduced to $5.39 from $5.46. The broker believes the market's reaction to the reduced production rate is overdone and maintains an Add rating.
Target price is $5.39 Current Price is $3.05 Difference: $2.34
ORE Price at posting:
$3.10 Sentiment: Buy Disclosure: Held
