0153 GMT - Australian lithium miner Pilbara Minerals "represents a very good rock for patient capital," say Jarden analysts. The company is doing well to preserve its balance sheet through an ongoing downturn in the lithium market, they say in a note. Jarden trims its target on Pilbara Minerals to A$2.50, from A$2.60, following the miner's 1H earnings result, but keeps its buy rating. "We covet high quality rocks (scale, grade, metallurgy, geometry, infrastructure, optionality) in high quality jurisdictions, under the stewardship of quality management teams, supported by robust governance and balance sheet settings," the analysts say. "In our view, PLS continues to display all of those attributes, and the assets remain free of the JV structures complicating operating decisions at numerous other operations." The stock is down 3.6% at A$2.005. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 23, 2025 20:53 ET (01:53 GMT)
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