Australia's Genesis Minerals gains as Bell Potter initiates coverage with 'buy'

Genesis Minerals

19/09/2024 04:32

** Shares of Genesis Minerals  GMD.AX  rise as much as 1.2%
to A$2.125 as Bell Potter initiates coverage with "buy"
recommendation
    ** Brokerage has a price target of A$2.55 on the Western
Australian gold producer
    ** "The combination of growing production, declining costs
and a supportive gold price, will progressively enhance GMD as a
growth platform" - Bell Potter
    ** Analysts at Bell Potter say GMD's planned production
growth rate is high relative to peers
    ** Four of six analysts covering the stock rate GMD "buy" or
higher, two "hold"; their median PT is A$2.60 - LSEG
    ** Stock up 18.7% YTD

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))