This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
The worst hit miner during the commodities downturn – trading all-time lows in January 2016 – Anglo has enjoyed one of the most impressive share price recoveries in history, having rallied over 700% from those lows to trade 5-year highs in 2018. Shares rallied 0.8% after January’s Q4 production update and, more notably, rallied 3.2% in July after half-year results. Will the shares enjoy another positive reaction to the full-year print?
The Chilean copper miner has followed a consistent trading range since Summer 2017 after a breakout from 868p resistance. Whilst trading just shy of 2017’s fresh 5-year highs of 1071.5p, Antofagasta’s results this year have been mixed. A 2% rally after Q2 results was followed by 4.4% and 0.8% declines after Q3 and Q4 production.
One of two dual-listed Australian miners – and the largest on the UK Index – Billiton is the only company releasing half year figures. Having rallied 2.1% following August’s FY results, and 0.4% a year ago, will it be three-in-a-row?
Of the two UK Index precious metal miners, silver-focused Fresnillo has endured some topsy-turvy reactions to trading statements over the past 12 months. Although shares rallied 3.7% after Q4 production in January, shares fell 2.3% and 2.6% after Q3 production and Q2 results, respectively. Which reaction will FY results mirror?
The miner and commodity trader formed after the Xstrata merger is one on the most popularly traded UK 100 stocks and another to enjoy a meteoric recovery since late 2015 (+500%). Glencore’s shares fell 1% after the release of FY production figures earlier in February, but will FY results emulate last year’s 1.7% post-results rally?
The premier UK gold miner, Randgold has been a narrowing patter since trading all-time highs after the UK’s Brexit vote. A driver behind this may be the mixed share price reaction to results of late. Having rallied an impressive 4.2% a year ago and 2.4% after Q2 results in August, shares fell over 7% back in November.
The second dual-listed Miner, Rio Tinto is also the second largest miner by UK 100 weight. It’s been a difficult 12-months results-wise, with shares falling 2.8% after Q2 results and 2.0% in January after Q4 production.
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research
Comments are closed.