Macquarie initiated coverage of St. Barbara Limited with an outperform rating and a target price of $1.00/share. According to them, the company has found a new direction after a change of senior management and strong performance from its key asset at Gwalia. This has been complemented by a strong turnaround at Simberi and the divestment of Gold Ridge is putting the company in a position where it can deleverage and re-examine expansion options.
SBM Price at posting:
80.5¢ Sentiment: Hold Disclosure: Held