New Zealand's Mercury NZ rises on geothermal station expansion

Mercury NZ

19/09/2023 05:15

** Shares of Mercury NZ  MCY.NZ  rise as much as 1.46% to
NZ$6.25
    ** Stock on track for a fourth consecutive session of gains 
    ** The electricity retailer confirms NZ$220 mln ($130.20
mln) expansion of Nga Tamariki geothermal station 
    ** Investment a part of NZ$1 bln commitment to generation
development over three years by MCY
    ** About 151,903 shares change hands, compared with the
30-day average volume of 583,910 shares
    ** Analysts' average rating is equivalent of "hold", their
median PT is NZ$6.70 
    ** MCY stock up 10.8% YTD, as of last close

    ($1 = 1.6898 New Zealand dollars)
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.pant@thomsonreuters.com))