Australia's Pantoro Gold rises after UBS initiates coverage with 'buy' rating

Pantoro Gold

17/03/2026 04:24

** Shares of Pantoro Gold PNR.AX rise 10.7% to A$3.775, set for their strongest session since July 22, 2025, if current trends hold

** Stock top gainer on benchmark .AXJO which is up 0.3%

** UBS initiates coverage of the stock with 'Buy' rating and price target of A$7.50

** UBS says PNR is on track to deliver first ore from the Norseman gold project on schedule

** "We view its growth strategy target of 200kozpa as achievable, and model production of 204koz in FY29 well ahead of consensus (153koz)" - UBS on Norseman gold project

** Stock down 22.8% this year, including the day's move

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))