CHN – Macquarie rates the stock as Outperform

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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).

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