Jefferies hikes PT on Aussie copper miner Aeris Resources on growth options
01/05/2024 24:19
** Jefferies hikes price target on Australian copper-gold
miner Aeris Resources AIS.AX to A$0.25 from A$0.16, retains
"hold" rating
** AIS on Tuesday maintained FY24 copper production forecast
between 28 and 35 thousand tonnes (kt), vs Jefferies' estimate
of 28.3 kt
** Says copper price recovery was quicker than anticipated,
which brings forward the attractiveness of developing growth
options such as Barbara underground mining project
** Adds that "operational improvements in Q4 FY24 are likely
to add liquidity"
** AIS has soared 75.9% YTD, as of last close
(Reporting by Sameer Manekar in Bengaluru)
((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))
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