2347 GMT - Evolution Mining avoids widespread selling pressure on Australia's benchmark ASX 200 index today after posting a 1H earnings beat, but Jefferies stays cautious on the gold producer. Evolution's 1H Ebitda was 7% higher than analyst Mitch Ryan's expectations. Net debt fell to A$1.48 billion and gearing is declining. Recent cash generation, improved operational consistency, and strong commodity prices will continue to support Evolution's efforts to bring debt down, Jefferies says. "However we remain cautious ahead of crystallization of several significant projects' capital over FY 2025, required to maintain long-term production volume, which could limit free cash flow generation until FY 2030," Jefferies says. The stock is up 1.1%. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 11, 2025 18:47 ET (23:47 GMT)
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