This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Attractive bearish technical set-up in terms of reversal potential. Copper price under pressure after strong rally to 3.5yr high thanks to weak USD and China production curbs to reduce pollution. New Year rotation from Santa Rally winners (+16%) could scupper share price uptrend as could a bounce by USD on tax reform digestion.
Consensus is biased bearish in terms of ratings, which is supportive of our trade. The consensus price target is already suggesting downside of 7% for the shares. Further share price reversal could encourage more positive analysts to review their ratings and targets.
Next Event: Q4 Production Report, 24 Jan
Latest Broker 12-Month Consensus: 23% Buy, 31% Hold, 46% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 3.3 | 10.8 | 3.0 | 24.6 | 47.6 | 112.2 | 33.2 | 21.2 | -27.9 |
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