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LUMI - Lundin Mining News Story

SEK98.95 -2.2  -2.1%

Last Trade - 22/04/21

Sector
Basic Materials
Size
Large Cap
Market Cap £6.43bn
Enterprise Value £6.84bn
Revenue £1.47bn
Position in Universe 117th / 1829

BUZZ-Copper miners: CS prefers Hudbay over Lundin in current environment

Tue 12th January, 2021 6:15pm
** Credit Suisse raises PT on copper producers Hudbay
Minerals  HBM.TO  and Lundin Mining  LUN.TO  as it expects
strong prices for the red metal in 2021
    ** Raises HBM to C$11 from C$10, LUN to C$11 from C$9;
Brokerage says it prefers Hudbay over Lundin in current
environment
    ** Says HBM continues to be a turnaround story with
meaningful growth, and while Lundin is also turning a corner
operationally, CS sees more limited growth over the medium term
    ** Prefers Hudbay over Lundin given torque to copper price,
operational catalysts and organic growth
    ** HBM also has the added cash flow benefit of gold
exposure, while Lundin's three-year production guidance looks
flattish - CS
    ** Expects copper prices to average $3.25/lb in 2021, driven
by ex-China fiscal stimulus and China's investment-led drive,
leading to a tight market over the mid-term
    ** On a QTD basis, HBM down 1% and LUN up 1.2%

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))
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