PRU – PIMB Securities rates the stock as Outperform

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The broker has increased cash cost forecasts for Edikan because of input cost pressures in Ghana. Although costs are expected to be high in the short term, these should decrease as mill throughput and grades improve, says the broker.

CIMB believes a strong operational performance in the second half will drive the share price, so the Outperform rating is retained. The price target is down to $2.60 from $2.70.
Sector: Materials.

Target price is $2.60.Current Price is $1.85. Difference: $0.75 – (brackets indicate current price is over target). If PRU meets the CIMB Securities target it will return approximately 29% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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