BUZZ-Australia's Stanmore Resources' quarterly output exceed Citi estimate

Reuters
29 Jan
BUZZ-Australia's Stanmore Resources' quarterly output exceed Citi estimate

** Citi say Stanmore Resources' SMR.AX saleable coal production of 3.27 million tonnes (Mt) for the December quarter beat brokerage's estimate by 7%

** SMR's saleable coal production for the period, compared to the preceding quarter, fell 14% due to a planned shutdown and wet weather

** Citi says company's quarter, ending in March, would also see some weather impacts, with production expected to rebound in Q2 CY25

** Brokerage retains the stock PT at A$3.40 and maintains a "buy" rating

** Three of four analysts rate the stock "buy" or higher and one "hold"; their median PT is A$3.73, according to data compiled by LSEG

** Stock down 11.96%, YTD

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))

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