Macquarie rate Mount Gibson Iron (ASX: MGX) as Outperform saying the company is on track to beat guidance
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Macquarie rate Mount Gibson Iron (ASX: MGX) as Outperform saying the company is on track to beat guidance. MGX shipped 2.5mt of iron-ore during the December quarter, 16% higher than anticipated. The company's strong sales result translated to group cash flow of $64m which increased cash form $420m to $484m. Post the strong result we believe MGX has the potential to beat the upper end of its 9.0-9.5mt production guidance for FY14.
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