Australia's Ramelius Resources Q4 production tops Macquarie view

Ramelius Resources

09/07/2024 05:26

** Ramelius Resources  RMS.AX  on Monday reported 4QFY24
production of 82.1 kilo ounces (koz) of gold, up 19.4% YOY
    ** Shares of RMS up as much as 0.9% to A$1.963 during trade,
extending gains from Monday
    ** Analysts at Macquarie say 4QFY24 production is 2% above
brokerage estimates
    ** Brokerage retains target price of A$2.10/shr and
'outperform' rating for stock
    ** Macquarie now assumes FY24 all-in-sustaining-cost (AISC)
for RMS to be A$1,550/oz, after co expects full-year AISC to be
at 'lower end' of A$1,550-A$1,650/oz guidance range
    ** Incorporating 4QFY24 preliminary result sees our FY24 EPS
estimate lift by 7% - brokerage
    ** Five of seven analysts covering the stock rate it "buy"
or higher and two rate "hold"; their median PT is A$2.30 - LSEG
data
    ** Stock 15.4% YTD, as of last close
    

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))