Dahlman Rose Maintains a 'Buy' on Avalon Rare Metals (AVL); Adjusting PT
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Price: $40.23 +2.24%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Dahlman Rose maintains a 'Buy' on Avalon Rare Metals (NYSE: AVL) price target cut from $8.00 to $3.65.
Analyst, Anthony Young, said, "Over the past several weeks, we have seen capital costs surge at numerous metals and mining companies. We do not believe that AVL will be immune to these industrywide trends. Management anticipates that the Nechalacho project will cost C$1.2 Bn to build, but in our base case we are forecasting total capital costs of C$1.7 Bn. If the company is able to exceed our conservative estimate, there is the possibility for further upside to our price target."
"We anticipate that the company will face elevated capital costs, similar to what we are seeing throughout the metals and mining industry, and we are adjusting our NAV to reflect this likely outcome."
For an analyst ratings summary and ratings history on Avalon Rare Metals click here. For more ratings news on Avalon Rare Metals click here.
Shares of Avalon Rare Metals closed at $1.68 yesterday.
Analyst, Anthony Young, said, "Over the past several weeks, we have seen capital costs surge at numerous metals and mining companies. We do not believe that AVL will be immune to these industrywide trends. Management anticipates that the Nechalacho project will cost C$1.2 Bn to build, but in our base case we are forecasting total capital costs of C$1.7 Bn. If the company is able to exceed our conservative estimate, there is the possibility for further upside to our price target."
"We anticipate that the company will face elevated capital costs, similar to what we are seeing throughout the metals and mining industry, and we are adjusting our NAV to reflect this likely outcome."
For an analyst ratings summary and ratings history on Avalon Rare Metals click here. For more ratings news on Avalon Rare Metals click here.
Shares of Avalon Rare Metals closed at $1.68 yesterday.
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