PAN – Macquarie rates the stock as Underperform

By Broker News | More Articles by Broker News

Panoramic Resources has restarted underground development work at the Savannah project that will enable the company to restart production. Macquarie believes the Panton sale will close the funding gap for ramping back to full production.

While the timing of the re-start is unclear, the broker believes the buoyant nickel prices present an upside risk to the forecasts.

Target rises slightly to $0.10 from $0.08. Underperform rating is maintained.

Sector: Materials.

Target price is $0.10.Current Price is $0.12. Difference: ($0.02) – (brackets indicate current price is over target). If PAN meets the Macquarie target it will return approximately -20% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

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 →