Genesis Minerals' (ASX:GMD) earnings and cash flow boost from rising gold prices is insufficient to maintain the company's positive investment rating, Moelis & Company said, according to a Thursday report from The Australian.
Moelis downgraded Genesis Minerals to a hold rating but raised its price target to AU$3, the report said.
Meanwhile, Ora Banda Mining (ASX:OBM) pared gains following an "aggressive" share price rally in October, but Moelis sees substantial upside potential for the company amid rising commodity prices, the report added.
Moelis has a buy rating on Ora Banda Mining and raised its price target to AU$0.84.
Shares of Ora Banda Mining rose nearly 9% in recent Thursday trade, while shares of Genesis Minerals were up almost 1%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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