Perenti's Contract Win With Endeavour Bolsters Confidence -- Market Talk

Dow Jones
06/03

2217 GMT - Perenti's A$1.1 billion contract with Endeavour Mining for its underground mine in Burkina Faso cheers Euroz Hartleys. That's because it comes hot on the heels of a A$1.02 billion mining contract with AngloGold Ashanti, and a A$500 million contract for Gold Fields. Analyst Gavin Allen says the wins were well telegraphed. Still, they lengthen Perenti's orderbook and show the company can deliver on what it promised. They also bolster investors' confidence in Perenti's ability to achieve guidance. "Perenti is in our view one of a handful of companies in our coverage universe that can trade up into results simply by hitting numbers," Euroz Hartleys says. It retains a buy call on Perenti's stock. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

June 02, 2025 18:17 ET (22:17 GMT)

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