MGX - Macquarie rates as Outperform
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Fourth quarter production was mixed with lower realised prices because of an inferior product mix that was offset by lower costs. Koolan Island is on track for first shipments in early 2019.
Macquarie notes the company has been able to maintain a modest cash margin from its Iron Hill operations that are expected to cease mining later this year.
Outperform rating. Target is $0.60.
Target price is $0.60.Current Price is $0.42. Difference: $0.18 - (brackets indicate current price is over target). If MGX meets the Macquarie target it will return approximately 30% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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