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Basic Materials
Large Cap
Market Cap £5.88bn
Enterprise Value £6.27bn
Revenue £1.66bn
Position in Universe 120th / 1828

BUZZ-Metals: Eight Capital keeps Agnico, Kinross, Yamana in focus ahead of Q3

Wed 14th October, 2020 8:01pm
** Heading into Q3 results, brokerage Eight Capital sees
potential for positive results from miners including Agnico
Eagle  AEM.TO , Kinross  K.TO  and Yamana  YRI.TO  
    ** Top sector picks include AEM, First Quantum  FM.TO ,
Freeport  FCX.N , Kirkland Lake Gold  KL.TO , Lundin Mining
 LUN.TO  and Wheaton Precious  WPM.TO 
    ** Eight Capital is positive on AEM's recovery following a
rocky start to 2020, and expects a number of key project updates
to positively re-rate stock
    ** See relative outperformance at Kinross, driven by
compelling valuation, strong cash flows and underlying leverage
to gold prices, as well as strong liquidity 
    ** Brokerage says Yamana has potential for further
re-rating, driven by continued balance sheet deleveraging,
improving operational consistency and portfolio monetization of
non-core assets
    ** Key themes into Q3, according to Eight Capital, are
operational recoveries from COVID-19 measures, increased
attention on capital allocation and stronger H2-weighted 
production from certain names
    ** Eight Capital downgrades Trevali  TV.TO  to "sell" from

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((;; +1 646 223 8780 Ext: 2776))
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