Global Metals: Precious metals lose luster, commodities still in good spot - BMO

Argonaut Gold

28/06/2018 15:10

** BMO says the dramatic sell-off across metals and bulk
commodity markets seen recently is not fundamentally warranted
    ** From a fundamental perspective, "commodities are still in
a good spot," says BMO
     ** BMO projects positive outlook on base metals and bulk
commodities given ongoing commodity demand and supply
constraints
    ** For base metals and bulks commodities, BMO raises EBITDA
estimates for 2018 and 2019 but lowers 2018 EPS forecasts for
precious metals
    ** Expects economic and seasonal pullback in share prices as
an "excellent buying opportunity" for preferred metal stocks
    ** BMO's top picks on metals and bulks commodities are Rio
Tinto  RIO.L , Glencore  GLEN.L , Alcoa  AA.N , Steel Dynamics
 STLD.O , Teck  TECKb.TO , First Quantum  FM.TO  and Atalaya
 ATYM.L  
    ** Views aluminium as the turnaround story in commodity
market; expects the level of deficit in aluminium to ease in H2
    ** BMO's precious metals top picks are Newmont Mining Corp
 NEM.N , Agnico Eagle  AEM.TO , Endeavour Mining 
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