EVOLUTION MINING LIMITED ((EVN)) Upgrade to Outperform from Neutral by Macquarie and Upgrade to Neutral from Underperform by Credit Suisse .
The company appears set to commit to the underground development of Cowal. Along with plant extensions and upgrades this should deliver on the long-term goal of a sustainable 300,000 ounces per annum run rate, Macquarie expects.
Macquarie upgrades FY19 and FY20 earnings estimates by 8% and 3% respectively. The broker believes the company is well-positioned to execute on organic as well as acquisition opportunities.
Rating is upgraded to Outperform from Neutral. Target is raised to $3.30 from $3.20.
Credit Suisse believes the emerging high-grade underground opportunity supports the company's aspirations to increase Cowal's production to 300,000 ounces per year for 20 years.
Upgrade
Add EVN (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$3.73 |
Change
-0.220(5.57%) |
Mkt cap ! $7.407B | |||
| Open | High | Low | Value | Volume |
| $3.90 | $3.90 | $3.73 | $68.66M | 18.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 21612 | $3.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.74 | 46587 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$3.74 |
Change
-0.220 ( 5.42 %) |
||||
| Open | High | Low | Volume | ||
| $3.89 | $3.89 | $3.73 | 5691901 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| EVN (ASX) Chart |