5E Advanced Metals price target lowered to $7 from $12 at Maxim

Maxim analyst Tate Sullivan lowered the firm’s price target on 5E Advanced Metals (FEAM) to $7 from $12 and keeps a Buy rating on the shares. The company reported a Q4 cash burn below its forecast and provided detail in an update call about U.S. reliance on boron imports as well as progress getting boron on the U.S. Critical Mineral list, the analyst tells investors in a research note. Maxim adds that its reduced price target reflects its view for increased cash outflow due to delays in project timing including higher project development spending.