Jefferies raises PT on Aurelia Metals, sees improved base metals production in Q4

Aurelia Metals

23/04/2025 22:51

** Analysts at Jefferies raise PT on Australia's Aurelia Metals AMI.AX to A$0.32 per share from A$0.30 per share; reiterate "buy" rating

** Gold and base metals explorer on Wednesday reported March-quarter production figures for gold of 16.6 thousand ounces (koz), up from 11.0 koz reported last quarter

** However, company reported a drop in its base metals production, with copper production down to 0.5 kilotons (kt) vs 0.7 kt in the last quarter

** Stronger gold offset weaker base metals production — Jefferies

** Brokerage sees base metals production to improve from fourth quarter, given ramp-up of development at co's Federation and Peak projects

** Three out of three analysts rate stock "buy" or higher; their mean PT is A$0.34 — LSEG

** Stock last up 70.6% YTD, as of last close

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com))