Emerald Resources' (ASX:EMR) March quarter production result was "disappointing" but a "usual event," said Euroz Hartleys in a March 21 note.
The company cut its gold production guidance at its Okvau gold mine in Cambodia for the March quarter to about 20,000 ounces from its previous production guidance of 25,000 ounces to 30,000 ounces.
The research firm noted that the company's guidance for upcoming quarters looks "strong," and Emerald Resources remains in a "strong" financial position for its production growth plans.
The research firm retained its buy rating on Emerald Resources with an unchanged price target of AU$5.15 per share.
Emerald Resources' shares dropped 4% in recent Monday trade.
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