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Aurubis AG reported a 19% increase in pre-tax earnings to €413 million for the past financial year, driven by higher smelting charges and lower energy costs. The company plans to raise its dividend to €1.50 per share, exceeding analyst expectations. However, UBS analyst Daniel Major cautions that the recent share price rally may not be sustainable, citing potential declines in pre-tax profit and challenging market conditions ahead.
UBS has maintained a "Neutral" rating for Aurubis, setting a target price of 65 euros. Analyst Daniel Major noted that the company's results and outlook met expectations, with moderate cost reductions being a positive sign. However, he highlighted that the recent stock rally was primarily due to short sale cover, as the copper group continues to face significant challenges.
UBS has maintained a 'Neutral' rating for Aurubis, setting a target price of 65 euros. Analyst Daniel Major noted that the company's results and outlook met expectations, with moderate cost reductions being a positive sign. However, he indicated that recent price increases were primarily due to short covering, as the copper group continues to face significant challenges.
UBS has maintained a "Neutral" rating for Aurubis, setting a target price of 65 euros. Analyst Daniel Major noted that the company's results and outlook met expectations, with moderate cost reductions being a positive sign. However, he highlighted that the recent stock rally was primarily due to short sale cover, as the copper group continues to face significant challenges.
UBS analyst Daniel Major highlights two gold stocks with significant upside potential: Franco-Nevada (FNV) and Wheaton Precious Metals (WPM). FNV, focused on streaming and royalties, faces challenges but has a 32% upside target, while WPM, a leading streaming company, is projected to grow production by 40% by 2028, with a 24.5% upside forecast.
UBS has initiated coverage of Wheaton Precious Metals Corp. with a "buy" rating and a price target of USD 78. The analysis includes a note on potential conflicts of interest as per EU regulations, which can be reviewed on the analyst firm"s website.
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