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Davy Research

Kenmare

Upgrading forecasts with $1bn book value possible in 2021

Sep 7 2021, 07:30 IST/BST
Colin Grant
Company Report
8 page(s)

Sectors : Resource

Companies : Kenmare

Ratings and price correct at time of issue.

Kenmare

Closing Price: 420.0p
RATING 03/08/16
OUTPERFORM
PREVIOUS RATING 07/12/15

UNDER REVIEW

Person's Name

Colin Grant

Analyst

DAVY VIEW

Following Kenmare’s interim results, we are putting through upgrades to our earnings forecasts. These continue to assume ilmenite prices well below spot, and our 2022/2023 earnings forecasts now look increasingly conservative. These upgrades lead to an estimated book value of over $1bn for the first time by year-end.

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Sep 7 2021, 07:30 IST/BST