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LUMI - Lundin Mining News Story

SEK97.1 -1.2  -1.2%

Last Trade - 1:45pm

Sector
Basic Materials
Size
Large Cap
Market Cap £6.14bn
Enterprise Value £6.52bn
Revenue £1.66bn
Position in Universe 120th / 1832

BUZZ-Global Copper: JP Morgan sees buying opportunities

Thu 20th June, 2019 9:00am
** JP Morgan says it recommends investors take shelter in
inexpensive copper miners with strong balance sheets 
    ** Initiates Lundin Mining  LUN.TO   LUMIN.ST  with an
"overweight" rating and adds it to the JPM Analyst Focus List 
    ** Cites Lundin Mining's cheap valuation and compelling spot
FCF yield inflection, adds the company is well positioned for
further cash returns or opportunistic M&A
    ** Raises Boliden  BOL.ST  to "overweight" from "neutral",
given its recent de-rating and strong balance sheet capable of
weathering lower copper/zinc prices better than peers
    ** JP Morgan meanwhile cuts First Quantum Minerals Ltd
 FM.TO  to "underweight" from "neutral", given increasing risks
from its two primary geographies, Zambia and Panama, and greater
balance sheet pressure
    ** The broker says while the ongoing China-U.S. trade
dispute could support copper volatility near-term, it expects
the copper market to return to a surplus in 2020 after a
balanced 2019

    

 ((marta.frackowiak@tr.com))
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