Macquarie raises PT on Jupiter Mines after strong sales and profit beat

Jupiter Mines

06/04/2023 02:06

** Macquarie raises price target for Australian miner
Jupiter Mines Ltd  JMS.AX  by 15% to A$0.30
    ** Jupiter's fourth-quarter production of 851kt of manganese
ore in line with expectations - analysts at Macquarie
    ** Sales 21% above forecasts - Macquarie
    ** Brokerage says bottom line metric of net profit after tax
of A$48.7 mln ($32.68 million) beats expectations by 52%
    ** Macquarie raises FY23 EPS expectations by 11%
    ** JMS shares currently up 2.2%
    ** Stock up 4.6% this year, as of last close 

($1 = 1.4901 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))