CHN – Macquarie rates the stock as Outperform

Macquarie has visited the Julimar site in WA, noting plans to accelerate the drilling. Land outside of the state forest has been largely secured and should enable a complete drill-out of the Gonneville intrusion over the next year.

A maiden resource is expected by mid 2021. Strong palladium prices drive material upside risk to the valuation, in the broker’s view. Outperform rating and $1.80 target retained.

Sector: Materials.

Target price is $1.80.Current Price is $1.75. Difference: $0.05 – (brackets indicate current price is over target). If CHN meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →