DBS Group Research is optimistic about CNMC Goldmine Holdings despite the company expecting to report a net loss for the 4Q ended Dec 31, 2016.
The research house is keeping CNMC at “buy” with a target price of 65 cents.
In a profit guidance filing on SGX on Jan 13, CNMC says this is mainly due to unrealised foreign exchange losses due to the depreciation of the ringgit against the US dollar, as well as a decline in revenue as a result of lower ore grades.
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