Citi sees Pilbara Minerals ahead of peers on WA operation expansion

Lithium

06/08/2023 21:56

** Citi sees Australia's Pilbara Minerals  PLS.AX 
"operationally years ahead of peers" on expansion of Pilgangoora
operations
    ** Brokerage has a price target of A$5.10 on lithium co,
maintains "buy"
    ** Citi says, co's Pilgangoora lithium operation in Western
Australia has grown up a lot from last year, with a greater ore
body understanding and planning, translating to increased
concentrate output
    ** "Expansion is on track (for Pilgangoora) and management
is positive on the Sept quarter reserve update" - Citi
    ** Eight of 17 analysts rate stock "buy" or higher, 6 "hold"
and 3 "sell"; their median PT is A$5.15 - Refinitiv data
    ** Stock up ~33% YTD, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru; Editing by Leslie
Adler)
 ((Ayushman.ojha@thomsonreuters.com;))