Equity Analysis /
United Kingdom

GB : Mining - Capital returns and inflation protection

    Tom Price
    Tom Price

    Analyst - Strategy, Accounting and Sustainability

    Contributors
    Yuen Low
    Ben Davis
    CGS-CIMB
    29 March 2022
    Published by

    Our commodity price forecasts have been revised () together with estimates for our equity coverage. Following Russia’s invasion, the commodity supply’s outlook features uncertainty. Yes, demand will eventually come under pressure, recent inflation-hit prices lifts are set to hold over coming quarters. Wait, for there will be a better time to sell. Upgrading Rio Tinto, BHP & Endeavour from Sell to Hold; Anglo American to a BUY on PGM and diamonds exposure.