GREY:NEVDQ - Post by User
Post by
aurenson Sep 29, 2021 1:59pm
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Post# 33937714
latest from RBC Sept 29 2021* Nevada Copper Corp. (NCU-T -3.
latest from RBC Sept 29 2021* Nevada Copper Corp. (NCU-T -3. Easing growth is taking “the air out of the commodity rally,” according to RBC Dominion Securities analysts Sam Crittenden and Alexander Jackson.
However, in a research report on the outlook for industrial metals, they said investment opportunities still exist “as the companies can generate strong FCF free cash flow] and valuations are attractive.”
Copper has fared better but is also off 13 per cent to $4.24 currently after peaking at $4.86 in mid-May. Copper may be better positioned in the near term relative to iron ore as inventories remain low, it could be less impacted by a property market slowdown in China, and the medium term outlook remains positive.”
On Wednesday, RBC maintained its 2022 copper estimate of $3.75, believing “moderating demand and increasing supply could tip the market back into a small surplus.” However, it raised its medium-term projections, noting “it wouldn’t take much to keep the market in a deficit.”
* Nevada Copper Corp. (
, “outperform”) to $2 from $2.50. Average: $2.13.