Osman, in deriving his newer target price, is assuming an average selling price of US$5,000 per ounce, up from US$4,300, with gold, amid an open war in the Middle East, up 25% above PhillipCapital's previous forecast.
Driven by higher gold prices and bigger production volume, CNMC Goldmine has reported FY2025 that blew past already bullish expectations, prompting Hashim Osman of PhillipCapital to maintain his "buy" call and raise his target price.
The company, with a bigger production capacity in place, plus, improving efficiency, is set to enjoy better earnings ahead.
