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Stocks to watch

Stocks of interest at the close of trading on Tuesday, December 3.

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STO - SANTOS - up five cents, or 0.6 per cent, to $8.05

Santos has lifted its 2025 production target to 120 million barrels of oil equivalent, more than double 2018's output.

TWE - TREASURY WINE ESTATE - down 55 cents, or 3.0 per cent, to $18

Treasury Wine Estate has appointed former Aristocrat Leisure chief financial officer Toni Korsanos as an independent non-executive director.

SAR - SARACEN MINERALS - down four cents, or 1.3 per cent, to $3.03

Saracen is predicting its share of gold from the Kalgoorlie Super Pit for the year ending June 30, 2020, will be 245,000 ounces at an all-in sustaining cost of $1,470 an ounce.

Saracen completed its $US 750 million purchase of a half-stake in the historic goldmine on Monday.

CTX - CALTEX AUSTRALIA - down 27 cents, or 0.8 per cent, to $34.49

The fuel importer and retailer says the $8.6 billion, $34.50-per-share unsolicited takeover offer from Canadian convenience store operator Alimentation Couche-Tard undervalues the company.

Caltex says it is open to a higher offer.