ALS Bull Sees Short-Term Gain Ahead of Medium-Term Pain
Dow Jones
8 hours ago
2202 GMT - ALS's bull at Bell Potter says it is increasingly cautious about exploration activity by mining companies from FY28. It worries that equity raisings by small mining companies are weakening. Other causes for concern are a resurgence of cost input inflation observed across the global mining industry, rising bond yields and a weakening gold price environment. Bell Potter cuts its price target on ALS by 7.7% to A$24.00/share. Still, it retains a buy call on the stock, as indicators point to short-term buoyant conditions in the exploration market. "Given the 1Q FY27 trading update, we reiterate our position that FY27 Minerals organic revenue growth guidance appears conservative," analyst Joseph House says. ALS ended Wednesday at A$21.09.
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