Australia's Meteoric Resources extends gains; Bell Potter cuts PT

Meteoric Resources NL

17/04/2025 03:30

** Meteoric Resources MEI.AX soars as much as 22.7% to A$0.135, highest since late July 2024

** Shares rose in the last two sessions after co identified high-grade rare earths in Brazil

** However, Bell Potter trims PT to A$0.17 from A$0.40 on adjustments to near-term neodymium and praseodymium outlook; ** retains "speculative buy"

** PT downgrade reflects adjustments to brokerage's capital funding adjustments for co's Caldeira project

** Stock rated "buy" on avg; median PT is A$0.36, per data compiled by LSEG

** YTD, MEI gains 58.8%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))