Alpha Recommendation - Buy Stanmore Resources (SMR)
Date: 29/01/2024
*** GENERAL AVICE ONLY***
Stanmore Resources (SMR) Stanmore Resources Limited (SMR) owns and operates the Isaac Plains Complex in Queensland’s prime Bowen Basin region which includes the Isaac Plains Mine and processing facilities, the adjoining Isaac Plains East (operational), Isaac Downs Project (under development) and the Isaac Plains Underground Project. SMR also holds a number of additional prospective coal tenements located in Queensland’s Bowen and Surat basins.
Coal sector stocks continue to look quite bullish. With MPC taking profits in other coal producers recently, we are looking for more opportunities in that sector. SMR is the next in line with a constructive chart pattern, with a small pullback from $4.20 being supported around the $3.90 area.
PE: 2.7
Mkt Cap: $3.4B
Buy Stanmore Resources (SMR)
Entry: $3.90 | Target: $4.20 | Stop: $3.65
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.