Jupiter Mines Trading at 'Big' Discount, Says Euroz Hartleys, Shares Down 3%

MT Newswires Live
2025/05/14

Jupiter Mines (ASX:JMS) has been trading at a big discount to Euroz Hartleys' valuation, the research firm said in a Wednesday note.

On Tuesday, the company said Exxaro Resources is expected to acquire a 19.99% stake in the firm and become its largest shareholder.

Exarro entered into a binding agreement to acquire Ntsimbintle Holdings' 37.1% stake in the Tshipi manganese mine, OM Holdings' (ASX:OMH) 13% stake in the mine, as well as Ntsimbintle and OM Holdings' marketing rights, equating to the right to market 50.1% of ore sales from the mine.

The research firm added that the premium paid by Exxaro is "big" but not a surprise since it is trading at a considerable discount compared to its valuation.

Euroz Hartleys maintained its buy rating on Jupiter Mines with a price target of AU$0.29.

The company's shares fell 3% in recent Wednesday trade.

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