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LUMI - Lundin Mining News Story

SEK106.1 4.1  4.0%

Last Trade - 16/04/21

Sector
Basic Materials
Size
Large Cap
Market Cap £6.78bn
Enterprise Value £7.19bn
Revenue £1.48bn
Position in Universe 113th / 1831

BUZZ-European metals & mining: GS sees compelling sector backdrop in 2021

Thu 14th January, 2021 8:29am
** Goldman Sachs expects compelling sector backdrop for
metals and mining in 2021, adding that pandemic represents a
structural shift
    ** It names sustained demand growth in China, broadly tight
commodity supply, supportive monetary policies, rising inflation
expectations, and weakening dollar supporting high commodity
prices as key reasons for remaining bullish on the sector
    ** GS continues to view the sector as undervalued, and
prefers exposure to copper, iron ore, platinum group metals
(PGMs) and steels, while being more cautious on zinc and
aluminium
    ** It ups Anglo American  AAL.L  to "buy" from "neutral",
providing deep dive on PGMs, while cutting Glencore  GLEN.L  to
"neutral" from "buy" following outperformance and thermal coal
recovery 
    ** GS keeps "buy" on Lundin Mining  LUN.TO , BHP  BHPB.L 
and ArcelorMittal  MT.LU , given the supportive commodity
backdrop, and remains "neutral" on Antofagasta  ANTO.L  and Rio
Tinto  RIO.L 
    ** On the contrary, it has a "sell" recommendation on
Boliden  BOL.ST  given its more bearish view on smelting
economics and zinc prices

 ((joanna.wodzicka@tr.com))
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