Its wealth-management revenues don't yet reflect the benefit of recent investment flows and account openings, he adds, noting a return of client risk appetite should provide further cyclical revenue support. "We expect this to drive production from the 33,500 ounce we expect in 2023 to 55,000 oz per year," they say. Serabi Gold is a corporate client of Peel Hunt, which keeps a buy rating and a 66 pence price target on the stock. First-half revenue was 26% lower on year, with home installations down 58%, representing a sharp reduction in market share, the analysts say. "The decision is finely balanced, which is reflected in market pricing giving approximately an equal probability to each outcome," he says.

Source: Wall Street Journal July 31, 2023 22:18 UTC