Update - Delivering on growth expectations
Jul 04th 2012 - Edison Investment Research today published a report on update entitled "Delivering On Growth Expectations". In summary, the report says:
Nordgold is one of the largest emerging markets gold players, with key operating assets in Russia, Kazakhstan and West Africa. The company is looking to boost its gold output to 1.3Moz by 2015 (0.8Moz in 2011), which should be achieved through the expansion of the existing operations and commissioning of new mines. Our DCF derived target of US$6.8 is 31% above the current market price. An undemanding valuation coupled with a strong growth profile makes the stock an attractive investment proposition.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »
