JBM - ABN Amro rates the stock as Hold - Initiation of Coverage
BY BROKER NEWS - 17/07/2007
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• JBM - JUBILEE MINES NL
The broker has initiated coverage with a Hold rating, the positives of high margin production and good dividends offset by a falling nickel price.
While FY08 is likely to be a transition year as mining shifts to other deposits the broker is attracted to the exploration potential and strong balance sheet on offer.
Target price is $17.80. Current Price is $16.40. Difference: $1.40 - (brackets indicate current price is over target). If JBM meets the ABN Amro target it will return approximately 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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