Macquarie raise PT, earnings estimate for Australia's Ramelius Resources after upbeat qtrly production

Ramelius Resources

04/04/2024 24:50

** Shares of Ramelius Resources  RMS.AX  rise as much as
3.15% to A$1.965, extending gains from its previous session
    ** Macquarie raises price target for RMS by 12% to
A$1.90/shr
    ** Brokerage says the gold miner's quarterly gold production
is 20% above brokerage's 72.6k ounces estimate
    ** Brokerage sees group gold production of 286,000 oz at an
AISC of A$1,685/oz in FY24
    ** Macquarie upgrades EPS forecast by 25% for FY24
    ** Four of seven analysts rate the stock "buy" or higher and
three "hold"; their median PT is A$1.90 – LSEG data
    ** RMS stock has risen 13.1% YTD, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))