By Dan Stratful
Friday 18th November 2011 |
Text too small? |
Australian brokers remain bullish on gold explorer Perseus Mining (ASX: PRU) which has fallen hard in recent days, after reports that Ghana may change its mining tax laws.
PRU which is focused on under-explored gold belts in West Africa has achieved its goal of becoming a producer during 2011 with its first gold poured in September 2011. PRU’s target is to have two mines operating in West Africa during 2013, and it is working towards producing more than 250,000 ounces of gold per annum from the first mine which will be in production in 2011.
Macquarie's target price falls 7.8% to A$4.70 whilst retaining its Outperform rating; Credit Suisse leaves it’s A$4.20 target and Outperform rating unchanged; and UBS cuts its target just 4% to A$5.00 and retains its Buy rating.
PRU’s shares today traded at $3.03
Recommendations sourced from IRESS & Dow Jones Newswires
For sharemarket and fixed income trading enquires contact:
Dan Stratful at Investment Research Group (IRG)
Authorised Financial Adviser (AFA)
0800 437 8489, 09 304 0232, dan.stratful@irg.co.nz
**A disclosure statement is available, on request and free of charge.
Disclaimer
In accordance with the Financial Advisers Act 2008 (“the Act”) Sharechat is “Class Advice” and any advice or recommendations contained on this webpage is not “Personalised Advice” as defined by the Act. This means Sharechat does not take into account an investor’s particular financial position, financial needs, financial goals, risk profile or asset allocation. Investor’s who require “Personalised Advice” should contact an Authorised Financial Adviser (AFA).
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes