AFR Stock Watch feature on PRU

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Stock watch - Perseus Mining
Gold producer Perseus Mining may have turned the corner and achieved operational consistency at its Edikan gold mine, according to UBS, which upgraded the stock's rating from "neutral" to "buy." The broker lifted Perseus's target price by 67 per cent to 55c reflecting the company's turnaround in performance. The successful on time delivery and on budget delivery of its second mine at Sissingue sees less risk in its outlook. With Perseus now holding two active mines in Africa, the broker is predicting strong growth in revenues if it can successfully manage both mines. UBS says that if Perseus can achieve operational consistency, investors might pay up early for a third mine at Yaoure