Weekly Reports | 10:30 AM
A summary of the highlights from Broker Call Extra updates throughout the week past.
Broker Rating Changes (Post Thursday Last Week)
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KINGSGATE CONSOLIDATED LIMITED ((KCN)) Hold by Moelis.B/H/S: 0/0/0
Moelis maintains a Hold rating for Kingsgate Consolidated with a $6.45 target price following preliminary production figures for the June quarter.
The analyst notes production came in below expectations at 20.2koz of gold and 220koz of silver due to a ball mill trunnion bearing failure which forced a controlled shutdown of Plant 1 at the Chatree Gold Mine.
Despite mechanical headwinds, the company achieved FY26 guidance at the lower end by producing 86.1koz of gold.
The investment thesis suggests near-term upside may remain capped until management provides further clarity regarding the Plant 1 disruption, cash reconciliations, and FY27 guidance.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Downgrade | |||||
| 1 | KINGSGATE CONSOLIDATED LIMITED | Neutral | Buy | Moelis | |
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