Uranium, Copper Have Greatest Upside Over Next Five Years –BMO ConferenceMonday March 3, 2014
Uranium and copper are expected to have the greatest upside potential over the next five years, according to attendees of the recent BMO Global Metals and Mining Conference, followed by precious metals and zinc, BMO says. Iron ore, nickel, lead and aluminum received few, if any votes. Conference attendees say iron ore and coal continue to be hampered by consensus expectations of oversupplied markets. “Nickel, lead and aluminum, while interesting as commodities, are disadvantaged in the conference poll as there are few equity plays for these metals,” BMO says. Sentiment overall at the mining conference this year “was more positive than it was last year, particularly as the materials index has slightly outperformed the wider TSX index year-to-date. However, as the poll indicates, there continue to be some areas of concern for investors,” BMO says. There were 83 unique respondents to the poll, the firm adds.
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(20min delay)