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DRR – Credit Suisse rates the stock as Outperform

The broker assesses the dislocation is a re-rating opportunity and retains an Outperform rating. Target is $4.80.

March quarter production was slightly ahead of expectations. The corporate focus is now on bolt-on royalty opportunities, Credit Suisse suggests, as South Flank is now 95% complete and on track for first production mid 2021.

The broker notes the share price has declined -10% since listing while the iron ore price has rallied around 45%. The broker assesses the dislocation is a re-rating opportunity and retains an Outperform rating. Target is $4.80.

Sector: Materials.

 

Target price is $4.80.Current Price is $4.18. Difference: $0.62 – (brackets indicate current price is over target). If DRR meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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