SBM – Credit Suisse rates the stock as Neutral

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Preliminary March quarter production of 85,900 ounces has been announced while the company has increased FY18 guidance to 375-392,000 ounces.

The upgrade was driven by an improved outlook at Simberi. The March quarter was soft at Gwalia but a stronger fourth quarter is envisaged.

Neutral. Target is $3.85.

Sector: Materials.

Target price is $3.85.Current Price is $4.09. Difference: ($0.24) – (brackets indicate current price is over target). If SBM meets the Credit Suisse target it will return approximately -6% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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