The American registered investment advisor has a 5.06% stake in the company after acquiring 59.20 million shares.
Target price raised by Macquarie Research
The company’s long term growth aspiration of producing more than 500,000 ounces of gold per annum is firming up with Yaouré’s development ahead of schedule and a new underground planned at Edikan.
Perseus produced 134,980 ounces of gold in the December half at a weighted average all-in sustaining cost (AISC) of US$942 per ounce.
The company posted a 193% increase in net profit after tax to $30.4 million and a 43% increase in EBITDA from operations to $123.9 million.
Macquarie Research has maintained its outperform recommendation for Perseus and raised the 12-month price target by 17% to $1.40.