Uranium Energy is expanding its uranium supply in Canada and the U.S., but RBC analyst Andrew Wong notes significant risks to greenfield conversion plans. RBC initiates coverage with a sector perform rating and a $10 price target as shares trade down 20% year-to-date at $9.36. Glencore has raised its marketing adjusted EBIT guidance to over $5 billion this year, up from previous estimates of around $4.9 billion, citing volatility and refining margins. RBC maintains an outperform rating with a 660 pence target price. BofA Securities has turned bullish on BHP, raising its share-price target to 68 Australian dollars from A$65 and upgrading the stock to buy, citing a 20% lift in long-term copper price forecasts to US$13,577 per metric ton. Lynas is acquiring Meteoric Resources to secure heavy rare-earths supply for its Malaysia refining plant, though UBS has trimmed its price target to A$21.00. Jarden has a bearish outlook on Liontown Resources, cutting its target to A$0.75 as the economics of the Kathleen Valley lithium operation are deemed unfavorable compared to consensus estimates.
Rio Tinto is exploring options for its aluminum operations as market conditions evolve. The company faces ongoing scrutiny regarding its supply chain and environmental commitments as it navigates the transition to low-carbon metals production.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing