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LUMI - Lundin Mining News Story

SEK103.9 -0.4  -0.4%

Last Trade - 07/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £6.47bn
Enterprise Value £6.85bn
Revenue £1.68bn
Position in Universe 118th / 1838

BUZZ-Metals & mining: Scotiabank expects strong Q1 results on higher prices

Mon 19th April, 2021 12:07pm
** Scotiabank expects Q1 earnings for most of metals and
mining cos in its coverage to significantly improve on a q/q and
y/y basis, thanks to stronger commodity prices
    ** Brokerage does not expect material changes to recently
released 2021 outlook, shareholder return policies 
    ** Expects Q1 core earnings of copper-focused miners Lundin
 LUN.TO , Teck Resources  TECKb.TO , Nexa Resources SA  NEXA.N 
Capstone Mining  CS.TO , to be 4%, 6%, 12%, and 18% above
consensus, respectively
    ** But EBITDA of Hudbay Minerals  HBM.TO  and Ero Copper
 ERO.TO  is estimated to be 6% and 7% below consensus,
respectively
    ** Brokerage forecasts miners to generate total $1.5 bln of
free cash flow in Q1/21 vs $2 bln in Q4/20, with only HBM, NEXA,
and TECK likely to see cash burn due to project builds
    ** Brokerage says Freeport-McMoRan's  FCX.N  updates on
ongoing ramp-up at Grasberg mine will be important when it
reports on April 22
    ** Anticipates market to focus on any updates to Teck's 2021
outlook, coking coal market outlook and remarks on QB2 copper
project given recent travel restrictions in Chile
    ** Scotiabank's preferred equity exposure is to Champion
Iron  CIA.AX , CS, FCX, FM, LUN and TECKb, heading into the Q1
reporting season

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