Ecora Resources (ECOR)

Sector:

Mining

144.80p
   
  • Change Today:
    -3.40p
  • 52 Week High: 189.60
  • 52 Week Low: 134.20
  • Currency: UK Pounds
  • Shares Issued: 257.86m
  • Volume: 595,465
  • Market Cap: £373.38m

Berenberg raises target price on Anglo Pacific

By Iain Gilbert

Date: Wednesday 27 Apr 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on mining company Anglo Pacific from 250.0p to 260.0p on Wednesday following a first-quarter earnings beat thanks to coal price tailwinds.
Berenberg stated Anglo Pacific had reported a "strong Q1", with total portfolio contribution coming in at $43.6m, beating estimates of $38.9m, driven mainly by a beat from royalties related to its Kestrel metallurgical coal in Australia.

The German bank, which reiterated its 'buy' rating on the stock, highlighted that the royalty contributed $33.5m versus its $27.2m estimate due to improved metallurgical coal prices.

Elsewhere, Berenberg noted that other portions of Anglo Pacific's portfolio had delivered in line with expectations, with cobalt from Voisey's Bay in Canada contributing $5.2m net, and coming in as the second-largest portfolio contributor.

"We continue to like the company's portfolio for its attractive long-term exposure to energy transition metals and its natural hedge against cost inflation, alongside the company's stable circa 4% dividend yield," said the analysts.

"In the near term, strong metallurgical coal prices are a tailwind, and, if we mark our model to market, our 2022 earnings per share increases to $0.45/share from $0.40/share, and our EBITDA increases to $117.0m from $104.0m, above consensus of $84.0m."

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Ecora Resources Market Data

Currency UK Pounds
Share Price 144.80p
Change Today -3.40p
% Change -2.29 %
52 Week High 189.60
52 Week Low 134.20
Volume 595,465
Shares Issued 257.86m
Market Cap £373.38m

Ecora Resources Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
52.98% above the market average52.98% above the market average52.98% above the market average52.98% above the market average52.98% above the market average
48.61% above the sector average48.61% above the sector average48.61% above the sector average48.61% above the sector average48.61% above the sector average
Income Not Available
Growth
34.62% above the market average34.62% above the market average34.62% above the market average34.62% above the market average34.62% above the market average
10.45% below the sector average10.45% below the sector average10.45% below the sector average10.45% below the sector average10.45% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ecora Resources Dividends

  Latest Previous
  Q3 Q2
Ex-Div 12-Jan-23 06-Oct-22
Paid 15-Feb-23 26-Oct-22
Amount 1.75p 1.75p

Trades for 01-Feb-2023

Time Volume / Share Price
16:17 1,504 @ 144.80p
16:17 119 @ 144.80p
16:17 1,166 @ 144.80p
16:17 1 @ 144.80p
16:17 1,591 @ 144.80p

Ecora Resources Key Personnel

CFO Kevin Flynn
CEO Marc Bishop Lafleche

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