RBC Capital Markets analyst Chris Drew described Northern Iron’s decision to raise A$55.5 million at a significant discount in early October to shore up the company’s working capital position in the wake of volatile iron ore prices, as prudent.
“Now the company is on track for a record production quarter in December, it’s benefiting from a recovery in the iron ore price and has a stronger balance sheet,” Mr. Drew said.
RBC Capital Markets has an Outperform recommendation on Northern Iron and a price target of A$1.10 a share.
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be careful holders coz this one may get back on track very shortly
over sold?, page-13
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Last
12.5¢ |
Change
-0.025(16.7%) |
Mkt cap ! $70.70M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 13.5¢ | 12.5¢ | $7.283K | 54.31K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 42818 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 47150 | 1 |
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| Last trade - 10.52am 30/07/2024 (20 minute delay) ? |
| DTZ (ASX) Chart |