Thursday, August 2, 2012

Mongolian Economy and Finance: Credit Suisse starts Mongolian ...

July 25 (ET Net) Credit Suisse initiated coverage on Mongolian Mining Corporation (MMC)(00975) with a "neutral" rating and a target price of HK$4.7.

It believes MMC's margin will continue to expand in 2012-13 at 50% YoY, driven by a product-mix change, low production cost and strong volume growth. However, earnings growth will plateau in 2014-15 to 3-7%, when MMC starts to produce thermal coal seams post the completion of railway lines.Credit Suisse noted that MMC's valuations came off to a fair range due to the drop in coal prices and its lower-than-expected 2012 earnings growth. (KL)

Source: http://mongoliaeconomy.blogspot.com/2012/08/credit-suisse-starts-mongolian-mining.html

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