Follwoing a first quarter production update by Orocobre, Ord Minnett lowers near-term earnings estimates due to reduced sales volumes
at Olaroz. The analyst retains the Buy rating and notes the company remains a key pick in the lithium sector.

The analyst points out the sales and cost performance at Mt Cattlin were very strong, resulting in positive revisions to guidance. The target price of $10.40 is unchanged.

Sector: Materials.

Target price is $10.40.Current Price is $9.01. Difference: $1.39 - (brackets indicate current price is over target). If ORE meets the Ord Minnett target it will return approximately 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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