MinRes damaged reputation: analyst

MACQUARIE Securities has downgraded Mineral Resources and slashed its price target, pointing to the reputational damage in its failed play for Aquila Resources being worse than any financial loss.

MinRes damaged reputation: analyst MinRes damaged reputation: analyst MinRes damaged reputation: analyst MinRes damaged reputation: analyst MinRes damaged reputation: analyst

Analyst Andrew Wackett cut MinRes rating to neutral from outperform and its price target to $A9.94 from $13.97.

It comes after MinRes bought a 12.8% stake in Aquila last week at $3.

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