In today’s briefing:
- Copper Price Inflection To 14,000 USD/Ton And Three Stocks To Play It
Copper Price Inflection To 14,000 USD/Ton And Three Stocks To Play It
- Copper has now entered the USD 14,000/ton range and consolidated. At these levels, companies are likely to see very positive HoH earnings, as production levels are also more H2-weighted.
- ERO Copper (ERO US), Lundin Mining (LUN CN), and Antofagasta (ANTO LN) are three names with cheap to reasonable valuations to play the copper price inflection
- Trading at 8x PE and 5.2x EV-EBITDA, ERO Copper (ERO US) is the cheapest, while Lundin Mining (LUN CN), at 14x PE and 6.1x EV-EBITDA, offers massive growth upside from Vicuna.
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