ReutersReuters

Jefferies positive on Australia's Aeris after upbeat quarterly production

** Jefferies says Australia's Aeris Resources' AAIS quarterly production across all assets exceeded brokerage's forecasts

** Brokerage says final production for Jaguar exceeded expectations; better production was mostly due to higher processed grades

** Jefferies reiterates "hold" rating while keeping price target at A$0.20 per share

** However, brokerage says heightened capital spend in H1 FY24 and continued weakness in base metals is likely to strain the balance sheet going forward

** Jefferies says co's several studies at co's project are set to be released over FY24, adds that studies can provide upside potential

** Three of five analysts rate the stock "buy" , two "hold"; their median PT is A$0.29 – LSEG data

** Stock had fallen 67.3% this year, as of last close

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