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UBS has downgraded Lundin Mining from Buy to Neutral, lowering the price target to Cdn$13.00 due to strategic shifts and economic uncertainties affecting the mining sector. While the sale of European assets is seen positively, concerns over trade wars and high capital expenditures persist. Conversely, Goldman Sachs initiated coverage with a Buy rating and a price target of C$16.60, highlighting the potential of the Vicuña project in Argentina, which could yield significant copper production by the mid-2030s.
UBS has downgraded Lundin Mining from Buy to Neutral, lowering the price target from 13.50 to 13.00 CAD, citing concerns over trade wars and market uncertainty despite the company's strategic asset sales and strong financial position. Goldman Sachs, however, initiated coverage with a Buy recommendation and a price target of 16.60 CAD, highlighting the potential of the Vicuña project in Argentina, which could yield significant copper production by the mid-2030s.
NatWest's chief executive, Paul Thwaite, is set to receive a pay package of up to £7.7 million, pending shareholder approval at the upcoming AGM. This represents a 43% increase, potentially rising to £9.5 million if the bank's shares increase by 50%. The bank is also on track for full private ownership by summer, with the government’s stake reduced to 2.99% after a £46 billion bailout in 2008.
Securities analysts have revised ratings and price targets for several European companies. Notable changes include JP Morgan raising Lloyds' target price to 62p and upgrading Societe Generale to overweight, while Citigroup increased Verbund's target to EUR 64. Other adjustments include Stifel raising Vusiongroup's target to EUR 215 and UBS cutting KGaA's target to EUR 28.2.
Arc Minerals has reported promising assay results from its joint venture with Anglo American in Zambia, revealing 0.6% copper over a 40-meter thickness and high-grade intersects of 1.7% copper. With significant funding of nearly $90 million from Anglo, the company is well-positioned for exploration in a region known for its copper potential. The ongoing rainy season has paused drilling, but plans are in place for a busy year ahead as they review data and prepare for future operations.
UBS has maintained a buy position on Anglo American, as reported by Cercle Finance. BOURSORAMA, acting solely as a distribution channel, emphasizes that it has not influenced the analysis, which is provided for informational purposes only and carries no contractual value. The institution adheres to strict conflict of interest management policies to ensure objectivity in its investment recommendations.
Commodities play a crucial role in the global economy, categorized into hard commodities like oil and gold, and soft commodities such as wheat and livestock. Investors can gain exposure through direct trading, spread betting, CFDs, or by using Exchange Traded Commodities (ETCs) and Exchange Traded Funds (ETFs), which track commodity performance without direct ownership. While ETCs focus on individual commodities and may carry counterparty risks, ETFs offer diversification and liquidity, often tracking futures contracts rather than physical assets.
Deutsche Bank AG is the only European lender among US investment bankers and private credit specialists financing Peabody Energy Corp.'s $2.1 billion bridge loan for acquiring coal assets from Anglo American Plc. The financing involves KKR & Co. and Jefferies Financial Group, with Deutsche Bank being the sole firm to publish a clear policy on coal.
[Bloomberg]
Anglo American Plc is set to sell an additional 6% of its platinum business to enhance the free float of its South African unit ahead of a complete exit. The company has initiated an accelerated book build offering for approximately 16 million shares in Anglo American Platinum Ltd., following a previous sale of about 14 million shares in September.
Anglo American plc
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ubs downgrades lundin mining stock amid economic uncertainty and strategic shifts
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