Australia's Red 5 rises; Macquarie upgrades EPS estimates

Vault Minerals

09/07/2024 04:25

** Shares of Australia's Red 5  RED.AX  rise as much as 2.5%
to A$0.405
    ** Analysts at Macquarie note the gold miner sold 110.8koz
of gold in Q4 FY24, 1% above their 109.6koz estimate
    ** Brokerage says preliminary Q4 FY24 result makes its EPS
estimates over FY24 to FY29 change by more than 1% 
    ** FY24-end net cash and bullion position of A$361 mln
($243.17 mln) was A$53 mln better than the A$307 mln in net cash
we expected - Macquarie
    ** Brokerage makes no change to "outperform" rating and to
its A$0.55/share target price
    ** 10.6 mln shares change hands as of 0313 GMT, vs 30-day
average volume of 31.1 mln shares
    ** Stock up 27.4% YTD, as of last close


($1 = 1.4846 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))