This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Attractive technical set-up with breakout from bullish flag pattern offering potential for a return to February highs. Company set to start paying dividends sooner than expected. Optimism towards sector returned after brief pause, with metals demand from China solid. Suggestions of iron ore supply issues this winter.
Consensus is biased bullish (40% Buy, 47% hold), with potential for neutrals to upgrade to Buy. This is supported by 57% of broker targets having target prices below current levels, meaning revisions could be required in light of the recent rally, especially with shares trading so close to the consensus target.
Next Event: China trade data, tomorrow; Q3 Production report, 24 Oct
Latest Broker 12-Month Consensus: 40% Buy, 47% Hold, 13% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | 5.5 | 21.8 | 29.9 | -2.4 | 53.8 | 65.7 | -18.0 | -10.8 | -31.6 |
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