This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Second day of bullish breakout. Shares supported by higher copper prices, itself supported by both supply concerns (Chile) and a weaker USD.
Broker consensus is relatively bullish, with 40% of analysts saying Buy, with the share price breakout having potential to prompt the 28% of brokers with neutral outlooks to upgrade their ratings.
Recent broker updates have seen upgrades of 12-month target price, with the most Bullish analyst assessment from Jefferies (17 May) suggesting a 1300p target, not far off our trade objective.
Next Event: Q2 Production Report 25 July
Latest Broker 12-Month Consensus: 40% Buy, 32% Hold, 28% 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 % | 8.8 | 13.9 | 31.5 | 28.3 | 46.1 | 164.9 | 53.9 | 45.8 | 20.6 |
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