Hartleys Research maintains a “buy" recommendation on Sheffield Resources with a $2.02 a share price target on the stock.
“Sheffield Resources recently raised $11 million in equity at 81¢ a share. We have updated our model to formally include the share issue, although we had already assumed some near-term dilution in our model, so the impact is negligible," Hartleys said.
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Elise Shaw writes on Markets specialising in Equity Markets, Commodities, Mining. Based in our Sydney newsroom, Elise has over 25 years experience as a finance and markets journalist and editor. Connect with Elise on Twitter.
