Maaden's Q2 net profit misses estimate, says Albilad Capital

Saudi Arabian Mining Co.’s (Maaden) second-quarter net profit (SAR 270 million) fell below Albilad Capital’s forecast of SAR 300 million, the brokerage firm said in a report.

The investment arm of Bank Albilad kept a "neutral" rating on the stock and left its target price unchanged at SAR 39.62.

On July 14, Maaden reported a 27 percent year-on-year drop in Q2-2015 net profit on lower prices and higher sales costs.