Morgans Target$0.38

Morgans rates VMY as Add (1) - The company notes recent actions by leading uranium miners, which are idling production capacity in an over-supplied market, will have an impact on both spot and long-term contract pricing.

Vimy Resources has previously announced three uranium converter contracts to process its Mulga Rock concentrate for nuclear fuel in Canada, the US and France. Morgans will revise valuation in light of the impending definitive feasibility study, due in the current quarter.

Add rating and $0.38 target unchanged.
Target price is $0.38 Current Price is $0.18 Difference: $0.2 If VMY meets the Morgans target it will return approximately 111% (excluding dividends, fees and charges). The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 2.20 cents .At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.18. Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 0.00 cents and EPS of minus 1.40 cents .At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.86.
Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources