Despite adverse weather and the significant BMC integration, Morgans notes 2Q production for Stanmore Resources met guidance and the broker's forecast.

While the recent correction in hard coking coal pricing tempers 2022 forecasts, the analyst believes prices still support an 18-20 month payback period, strong de-leveraging and dividend upside.

The target slips to $3.20 from $3.35. Add.

Sector: Energy.

Target price is $3.20.Current Price is $1.96. Difference: $1.24 - (brackets indicate current price is over target). If SMR meets the Morgans target it will return approximately 39% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena