PRU’s FY24 results delivered a NPAT of US$365m which was up 14% YoY and a 31% beat on our numbers, after adjusting for higher inventory adjustments. PRU’s strong operational track record continues, meeting the upper end of production guidance with 509koz of gold produced at a AISC of US$1,053/oz. We maintain our $3.10 Price Target with a Buy recommendation.
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