Riyadh-Mubasher: Saudi Fransi Capital (SFC) recommended 'Hold' on Saudi Arabian Mining Co. (Ma'aden), setting the 12-month price target at SAR 32.50.
The company's revenues are likely to rise by nearly 23% this year, the research firm said.
When Wa’ad Al Shammal starts operations, Ma’aden will be one of the largest phosphate producers in the world, with the addition of 2.8 million tonnes of diammonium phosphate capacity.
Operational efficiencies are expected to rise as WAS and MPC will share administrative functions and logistics.
However, the earnings are seen falling by 22% year-on-year to SAR 1,356 million, SFC said.
