2205 ET - Emerald Resources has lost its shine with Barrenjoey. "We downgrade Emerald to underweight as our framework valuation appears stretched, with the market pricing in a lot of value for growth projects Memot/Dingo," analyst Daniel Morgan says. Barrenjoey, previously at neutral, believes Emerald's recent resource updates for these projects suggest they have more marginal economics than many peers. Emerald's share price is up around 23% over the past 12 months, although it has pulled back from a high of A$4.54 reached in the middle of last month. Emerald ended Monday at A$3.89. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 04, 2025 17:05 ET (22:05 GMT)
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