Base Resources Ltd (BSE)

Sector:

Mining

 16.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 18.50p
  • 52 Week Low: 13.75p
  • Currency: UK Pounds
  • Shares Issued: 1,178.01m
  • Volume: 2,941
  • Market Cap: £194.37m
  • RiskGrade: 182
  • Beta: 0.00

Canaccord Genuity raises target price on Base Resources

By Iain Gilbert

Date: Wednesday 29 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price on mineral sands company Base Resources from 35.0p to 50.0p on Wednesday, citing its exposure to a suite of "underappreciated (but highly attractive) commodities" and a "strong" near-term dividend yield.
Canaccord, which recently initiated coverage on Base Resources, stated the "high quality" nature of its flagship development project in Madagascar, Toliara, had been highlighted earlier in the week when it released "a significant reserve and resource upgrade" to what was already a "world-class" resource.

The Canadian bank, which reiterated its 'buy' rating on the stock, said this upgrade, underpinned by the release of an updated definitive feasibility study for the project, materially expanded the expected scale of peak heavy mineral output, life and ultimate value for the project.

"Following the release of the DFS2 update, we have reviewed our assumptions and estimates for the Toliara project, and our resultant Base Resources target price," said Canaccord.

"Even allowing for the inflation in capital cost estimates within DFS2 (total stage one and stage two capex now total ~US$660.0m (post-FID), up from ~US$511.0m), our standalone asset value (NPV) for Toliara has increased by ~US$300.0m (to US$815.0m); which after allowances for funding-mix (assumed debt/equity 60/40 split, inclusive of a 20% stake sale of the asset) results in a ~43% upgrade to our NPV-based target price (rounded to the nearest 5p/share) to 50.0p."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BSE Market Data

Currency UK Pounds
Share Price 16.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 18.50p
52 Week Low 13.75p
Volume 2,941
Shares Issued 1,178.01m
Market Cap £194.37m
Beta 0.00
RiskGrade 182

BSE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
65.96% above the sector average65.96% above the sector average65.96% above the sector average65.96% above the sector average65.96% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
36.36% above the sector average36.36% above the sector average36.36% above the sector average36.36% above the sector average36.36% above the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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BSE Dividends

  Latest Previous
  Final Interim
Ex-Div 10-Sep-21 12-Mar-21
Paid 29-Sep-21 31-Mar-21
Amount 4.00¢ 3.00¢

Trades for 26-Jan-2022

Time Volume / Share Price
15:05 2,941 @ 17.00p

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