SBM – Credit Suisse rates the stock as Underperform

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Continuing operations at Gwalia and Simberi were weaker in the September quarter, Credit Suisse notes. However, the company’s recently-acquired Atlantic Gold has performed in line with expectations and offset the weaker contribution from Gwalia and Simberi.

Target price steady at $2.76. Underperform rating retained.

Sector: Materials.

Target price is $2.76.Current Price is $2.84. Difference: ($0.08) – (brackets indicate current price is over target). If SBM meets the Credit Suisse target it will return approximately -3% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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