March quarter production and financial metrics were either ahead or in line with UBS forecasts.
The broker assesses the company’s 10-year vision for production of 300-400,000 ounces per annum is not yet underscored by technical detail, and therefore not priced in.
The broker retains a Buy rating and raises the target to $9.50 from $9.00.
Sector: Materials.
Target price is $9.50.Current Price is $7.60. Difference: $1.90 – (brackets indicate current price is over target). If AQG meets the UBS target it will return approximately 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
