0224 GMT - Capricorn Metals' hedge-book closure is welcomed by Macquarie. The miner is "leveraging the value of its scrip in a way that's not materially dilutive, while preserving cash for growth and improving exposure to spot gold prices," the bank's analysts say in a note. On their gold-price forecasts, the company's closed hedge book was A$89 million out of the money, they say. At spot prices, that figure is closer to A$132 million, they add. Macquarie has a neutral rating on the stock. Its target rises by 1% to A$8.20/share. Capricorn trades unchanged versus Thursday's close, at A$8.21. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 20, 2025 22:24 ET (02:24 GMT)
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