Base Resources Ltd (BSE)

Sector:

Mining

Index:

FTSE AIM All-Share

7.25p
   
  • Change Today:
    -0.13p
  • 52 Week High: 14.75
  • 52 Week Low: 6.10
  • Currency: UK Pounds
  • Shares Issued: 1,178.01m
  • Volume: 192,525
  • Market Cap: £85.41m
  • RiskGrade: 182

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 7.25p
Change Today -0.13p
% Change -1.69 %
52 Week High 14.75
52 Week Low 6.10
Volume 192,525
Shares Issued 1,178.01m
Market Cap £85.41m
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
49.23% above the sector average49.23% above the sector average49.23% above the sector average49.23% above the sector average49.23% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
4.35% below the sector average4.35% below the sector average4.35% below the sector average4.35% below the sector average4.35% below the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
90.62% above the sector average90.62% above the sector average90.62% above the sector average90.62% above the sector average90.62% above the sector average

What The Brokers Say

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

BSE Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Sep-23 10-Mar-23
Paid 28-Sep-23 30-Mar-23
Amount 4.00¢ 2.00¢

Trades for 23-Feb-2024

Time Volume / Share Price
16:35 171 @ 7.25p
16:35 171 @ 7.25p
16:21 41,361 @ 7.25p
15:17 1,666 @ 7.43p
14:38 21,349 @ 7.45p

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