The company produced 78,900 ounces of gold in the June quarter to deliver a record production outcome for FY18 of 316,500 ounces.
Production guidance for FY19 has been lifted to 320-345,000 ounces and Macquarie’s forecasts are at the top of this range. Exploration is considered a key catalyst, with Karari providing the base load.
Neutral rating and $2.20 target maintained.
Target price is $2.20.Current Price is $2.23. Difference: ($0.03) – (brackets indicate current price is over target). If SAR meets the Macquarie target it will return approximately -1% (excluding dividends, fees and charges – negative figures indicate an expected loss).