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date:12/10/2020
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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.
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.
Ellison says growing contractor/miner is moving with the times
