Lundin Mining (Buy, TP: SEK50.00) - Growth and value at a fair price
The stock is down 22% since mid-November, and we now believe that the growth potential is not priced in, while solid shareholder returns and a more positive view on copper may offer an opportunity for the shares to recover from the recent sell-off. We have cut our target price to SEK50 (58), but upgraded to BUY (HOLD).Lundin Mining is a holding company. Through its subsidiaries, Co. is engaged in the exploration for minerals and the production of base metals, with a focus on zinc.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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