Where does MM see St Barbara (SBM) topping out?
Hi Guys, Keep up the good work in outlining your thoughts moving forward. I brought SBM at 90cents after reading your reports where do you see this stocks share price peaking at. Cheers
The Latest Q&A
Answer
Hi Ian,
Ultimately we think SBM is worth north of $1.60. We expect consolidation in the smaller part of the gold sector which is why we originally bought it, and if Gold can get a tailwind that would also help. We wouldn’t be surprised though to see some consolidation around current levels, given they enjoyed a pop following Diggers and Dealers earlier in the week where we heard lots of positive feedback on their prospects.
- Technically $1.60 is a simple retest of its March’20 low and only a 25% retracement of its decline from its post Covid high i.e. hardly a big call.
