Australia's Imdex gains after Macquarie lifts PT on upbeat quarterly update

Imdex

06/11/2025 04:21

** Shares of mining tech firm Imdex IMD.AX advance as much as 2.8% to A$3.455, their biggest intraday pct gain since October 21

** Macquarie raises PT to A$3.65 from A$3.50 and retains "neutral" rating after an upbeat first-quarter trading update

** Imdex, in its quarterly trading update in October, posted a revenue increase of 10% YoY

** Brokerage also highlights that global exploration activity is showing "clear signs of improvement" with rig utilisation rising across all regions

** Stock currently at 2.4%, bringing YTD gains to 48.7%

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))