Aditya Birla shareholders will all be breathing a sigh of relief. MLX is clearly the better managed entity.
Amazing how one very large broker was advising its clients a little over a year ago to get out of ABY, saying it wasn't worth more than 13c. Now that the Aditya Birla board has sensibly done a deal in taking mostly Metals X shares, one has to question that broker's valuation process and how they could have overlooked the underlying copper miner's value - even at multi-year lows for copper - that Metals X management could clearly see.
Needless to say, I don't deal through these merchants any longer. But on the issue of broker reports, it's also interesting that the selection of reports on the MLX website have collectively, and correctly (judging by recent share price action) predicted good upside to the stock. Would anybody know of any recent reports suggesting MLX is only a 'hold' or 'sell' at these levels?
MLX Price at posting:
$1.60 Sentiment: Hold Disclosure: Held
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