Stifel reiterated its 'buy' rating and 670p price target on Greatland Resources after its September quarter output beat consensus despite 15 days of planned maintenance. Greatland produced 70,000 ounces of gold, above consensus of 67,000 ounces, and reiterated full-year production guidance of 260,000 to 300,000 ounces. All-in sustaining costs were A$2,925 an ounce, above Stifel's forecast of A$2,780 but below consensus of A$3,215, and growth capital spending of A$97m was well below consensus of A$153m. The company ended the quarter with A$1.3bn in net cash after additional tax payments; Stifel said it wants to see whether the Havieron development stays on schedule and flagged possible cost risks tied to oil prices. The shares closed at 455p, down 21.9% over the past month and well below their 12-month high of 800p, implying 47.3% upside to the 670p target; in late morning trading they were up 8% at 491.4p.
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Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/23/2026 | 3,995.78 |
| Change that session | -0.72% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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