We upgrade our FY24 EBITDA forecast by 16% on the back of the strong margin generated in the 1H and GRES’s reiteration of full year revenue guidance. This suggests that it is business as usual at West Musgrave (in the spotlight given BHP’s WA nickel commentary) until we hear to the contrary. Some nagging uncertainty here, and a share price close to our valuation, causes us to keep our HOLD recommendation.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.