Jefferies positive on Australia's Aeris after upbeat quarterly production

Aeris Resources

09/10/2023 20:15

** Jefferies says Australia's Aeris Resources'  AIS.AX 
quarterly production across all assets exceeded brokerage's
forecasts
    ** Brokerage says final production for Jaguar exceeded
expectations; better production was mostly due to higher
processed grades 
    ** Jefferies reiterates "hold" rating while keeping price
target at A$0.20 per share 
    ** However, brokerage says heightened capital spend in H1
FY24 and continued weakness in base metals is likely to strain
the balance sheet going forward 
    ** Jefferies says co's several studies at co's project are
set to be released over FY24, adds that studies can provide
upside potential   
    ** Three of five analysts rate the stock "buy" , two "hold";
their median PT is A$0.29 – LSEG data
    ** Stock had fallen 67.3% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))