Imdex Waits on Pick Up in Drilling Activity -- Market Talk

Dow Jones05-08

2338 GMT - Macquarie trims its earnings outlook for Imdex to reflect limited visibility about when drilling activity will pick up but remains bullish on the stock. Macquarie's FY 2024 EPS forecast falls 8.6%, while its FY 2025 and FY 2026 views are lowered by 9.1% and 8.1%, respectively. Still, it highlighted emerging tailwinds for Imdex, including a potentially large shortfall in copper supply from 2027 and a forecast drop in gold resources for the 20 largest producers over time. "Key commodity prices have increased recently with gold and copper comprising 75% of exploration activity," Macquarie says. "Despite this, global exploration budgets are yet to follow, and while capital raisings have improved, the improvement is from a small base." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 07, 2024 19:38 ET (23:38 GMT)

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Macquarie's FY 2024 EPS forecast ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7511","symbol_name":"ESG概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2433754625","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433754625","pubTimestamp":1715125080,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2338 GMT - Macquarie trims its earnings outlook for Imdex to reflect limited visibility about when drilling activity will pick up but remains bullish on the stock. 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