Summary Marketline's Pure Nickel Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Pure Nickel Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments r...
Summary Galleon Gold Corp - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Galleon Gold Corp (Galleon Gold), formerly Pure Nickel Inc, is a mineral exploration company. It undertakes the exploration of nickel, platinum group elements (PGEs), copper, gold, silver, and associa...
A director at Lundin Mining Corporation bought 3,305,900 shares at 9.873CAD and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two...
What you need to know: • The precious metals markets held flat in August, following the solid performance in July; mining equities fell modestly. • M&A continued to be light in August, we believe this is primarily due to the lack of clarity regarding the direction of interest rates. • Safe-haven assets like gold and silver continue to look highly attractive with mining equities trading close to trough multiples, creating buying opportunities for when investment dollars flow back into the sector...
Summary Marketline's Canada Zinc Metals Corp. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Canada Zinc Metals Corp. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances...
Summary ZincX Resources Corp - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights ZincX Resources Corp (ZincX Resources), formerly Canada Zinc Metals Corp, is a mineral exploration company focused on properties such as zinc, lead and silver in Canada. It has two wholly...
The independent financial analyst theScreener just lowered the general evaluation of LUNDIN MINING (CA), active in the General Mining industry. As regards its fundamental valuation, the title still shows 3 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date March 15, 2022, the closing pri...
With the stock suffering from 1) fading earnings momentum owing to a lower copper price; 2) challenging operations at Candelaria; and 3) political risk in Chile putting pressure on multiples, we believe Lundin Mining’s cash-flow generation is poorly reflected in the share price. We forecast a 2022–2023e FCF yield of 17–19%, driven by high Cu-equivalent volume growth and low capex intensity compared to peers. We have cut our 2021–2022e EBITDA by 5–7% to reflect mark-to-market metal prices and FX....
We reiterate our BUY but have cut our target price to SEK350 (400) after lowering our 2021–2022e adj. EBIT by 5–12% to reflect marked-to-market metal prices and FX. We are 1% below consensus on Q3 adj. EBIT, and believe increased sick leave and Covid-19 restrictions could limit production in the open-pit mines. Our copper production forecast is 11% below consensus. We still like the long-term story, with a higher smelting earnings base from operational improvements and recovering external smelti...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We reiterate our BUY but have cut our target price to SEK98 (105) and our 2021–2022e EBITDA by 9–4%, reflecting marked-to-market metal prices and lower production in Candelaria. Q2 EBITDA was 3% above consensus, and the report supported the dividend case as the company raised its regular DPS by 50% (again) and announced a semi-annual performance DPS of CAD0.18, for an annualised yield of 5%. However, guiding for lower production in Candelaria also in 2021–2022, the stock is facing earnings headw...
While the stock has suffered from political risk in Chile related to a proposed tax that could cut 2025e EPS by 25% on current conditions, we believe a yield machine is in the making thanks to its growing cash returns. We forecast a 2021–2022 dividend yield of 2–3% and FCF yield of 12–16% that can be utilised for extraordinary dividends or share buybacks. The share price has decoupled from the company’s underlying commodity portfolio, and we reiterate our BUY. That said, we have cut our target p...
We have taken a deep dive into the smelting division and believe investment in expanding operations and technical capabilities have lifted the earnings base to the next level, not reflected in consensus and underestimated in the implied smelting valuation of EV/EBIT 6.2x (peers: 8.5x). We forecast Smelter adj. EBIT of SEK4bn for 2022e, 14% above consensus. We have upgraded Boliden to BUY (HOLD) and lifted our target price to SEK435 (355).
The general evaluation of BOLIDEN AB (SE), a company active in the General Mining industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date April 30, 2021, the closing price was SEK 32...
Despite an 11% miss on EBITDA, driven by the timing of sales and lower production, the Q1 report did not change our view that Lundin Mining is facing a positive scenario, thanks to: 1) 5% Cu-equivalent volume growth; 2) falling unit costs on favourable FX and volumes; and 3) relatively low capex-intensity. We find it offers maximum leverage to the copper price and could in our scenario generate exceptional cash flow, which could trigger higher shareholder returns in the coming quarters. We reite...
We reiterate our HOLD, but have raised our target price to SEK355 (350) and our 2021–2022e EBIT by 4% to reflect mark-to-market metal prices and FX. We believe challenges will remain in the coming quarters, as Aitik’s grade profile should decline QOQ from Q1, lower TCs are likely to still affect Smelter profits QOQ, and we believe working capital build-up could limit FCF generation in the coming quarters. We forecast a 2021 FCF yield of 5.5% versus peers at 6%. These challenges imply limited tri...
Following a disrupted Q4 we expect record-high Q1 earnings, with EBITDA of USD434m (+112% QOQ, 15% above consensus). Being highly geared to copper/gold prices, offering 6% copper equivalent volume growth in 2021e, and falling unit costs on volumes and favourable FX, we believe Lundin Mining offers good growth and value in 2021 even after the recent share price rally. Our 2021–2022e EBITDA are broadly unchanged, reflecting marked-to-market metal prices and FX. We reiterate our BUY and SEK105 tar...
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