Mineral Resources Scores With Hat Trick of Good News -- Market Talk
19 Noviembre 2015 - 6:23PM
Noticias Dow Jones
2352 GMT [Dow Jones] Iron-ore miner and engineering contractor
Mineral Resources (MIN.AU) climbs 4% to A$4.83 Friday, reflecting
the hat trick of good news provided to shareholders at its annual
meeting this week. Mineral Resources said it has won a contract to
provide mining services to Rio Tinto's (RIO) Nammuldi pit in
Western Australia; it plans to launch a A$30 million share buyback;
and anticipates FY16 Ebitda of between A$250 million-A$290 million.
That profit forecast was much stronger than Deutsche Bank was
expecting, and prompted the broker to lift its price target by 12%
to A$7.50/share. Deutsche expects Mineral Resources's annual Ebitda
to total A$255 million, compared with an earlier forecast for A$149
million. It retains a buy call on the stock.
(david.winning@wsj.com; @dwinningWSJ)
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(END) Dow Jones Newswires
November 19, 2015 19:08 ET (00:08 GMT)
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