Lucara Diamond logo

LUC - Lucara Diamond News Story

C$0.8 -0.0  -4.8%

Last Trade - 8:34pm

Sector
Basic Materials
Size
Small Cap
Market Cap £195.3m
Enterprise Value £212.3m
Revenue £102.2m
Position in Universe 517th / 2703

BUZZ-Berenberg expects recovery in metals and mining sector

Wed 8th July, 2020 10:04am
** Brokerage Berenberg says metals and mining sector is
recovering in the shadow of a second wave of novel coronavirus
cases, with precious metal miners having fared best, followed by
those with copper and iron ore exposure
    ** Recent data from both the U.S. and Europe has been
supportive of the tick-shaped recovery thesis, with a 17.7% rise
in U.S. retail sales for May - Berenberg 
    ** Brokerage expects a tick-shaped recovery, rather than a
V-shaped one with an initial sharp rebound  
    ** Berenberg believes that demand will be strong for metals
such as copper, nickel, platinum-group metals (PGMs), lithium
and cobalt as the world seeks to improve living standards
    ** However, brokerage says supply of PGMs has been affected
by the lockdown in South Africa and the outage at Anglo American
PLC's  AAL.L  converter plant in the region
    ** Says the key U.S. market is in a deep freeze and spot
prices of metals are down 20% QOQ despite major companies
restricting supply
    ** Brokerage revised price targets on metals and mining
stocks as follows:
    

 Company Name            New PT      Old PT
 ANGLO PACIFIC           180P        200P
 CAPITAL LIMITED         78P         77P
 CENTAMIN                190P        184P
 ENDEAVOUR MINING        C$40        C$36
 GEM DIAMONDS            26P         28P
 HOCHSCHILD MINING       200P        190P
 KENMARE RESOURCES       380P        400P
 LUCARA DIAMONDS         C$0.70      C$0.80
 PETRA DIAMONDS          2P          5P
 POLYMETAL               1840P       1680P
 INTERNATIONAL                       
 RESOLUTE MINING         90P         88P
 THARISA                 200P        150P
 
 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.