Ord Minnett notes commodity prices have been less volatile so far in 2023. Generally lower commodity prices are being offset by a weaker Australian dollar.

In the longer term, the broker expects the iron ore price will decline and offset much of the benefit of higher production for Deterra Royalties. Lighten rating maintained. Target is $3.90.

Sector: Materials.

Target price is $3.90.Current Price is $4.59. Difference: ($0.69) - (brackets indicate current price is over target). If DRR meets the Ord Minnett target it will return approximately -18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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