Globe editors have posted this research report with permission of Dundee Capital Markets. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
Looking at EBITDA sensitivities, we believe it could be a very challenging year for base metals producers. That said, in this weak copper environment we remain comfortable with our 3 top picks (TV, NSU & LUN) which we chose based on; 1) production growth, 2) low costs, 3) commodities diversification (including zinc exposure) and 4) strong balance sheet with the ability to generate FCF. DCM's commodity preferences remain Zinc > Nickel > Copper.
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