Copper Miners Glimpse the Future they have Long Seen Coming
The following is a summary of the recent copper viewpoint from: Jefferies, Goldman Sachs, BHP, ANZ, ING, Sprott, US Global Investors, and Morgan Stanley.
They are all singing from the same hymn sheet.
If copper goes from US$4/lb to US$6/lb, as we expect over the next 2-3 years, copper mining equities should roughly double, on average. [Jefferies 21 March 2024]
On Thursday, Goldman Sachs reiterated its bullish call for a 65% copper price jump by 2025.
Note: EVN has the best exposure of the large ASX gold stocks from further increases in copper pricing (~30% of EVN's revenue over FY24-26E, per Goldman Sachs).
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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