Australia's Genesis Minerals hits record high on upbeat Q3 gold output

Genesis Minerals

16/04/2025 05:13

Updates with share moves and analyst comments

** Genesis Minerals' shares GMD.AX climb nearly 9% to a record high of A$4.410, topping analysts' median price target

** Gold miner reports 96.1% jump in Q3 gold production to 59,767 oz; on track for FY25 output of 190,000-210,000 oz

** UBS notes GMD's higher per-ounce production cost in Q3 but highlights cash increase of A$111 mln, in line with brokerage expectations

** UBS keeps "buy" rating and A$4.50 PT

** Five of nine analysts rate the stock "buy" and four rate it "hold"; median PT is A$3.90 - LSEG data

** Stock has surged 78.5% YTD, outperforming the gold miner's index's .AXGD gaining ~50% jump

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))