Base metals: Cormark Securities sees stocks under pressure on trade war woes

Ascendant Resources

23/07/2019 16:24

** Cormark Securities cuts PT on several base metal
companies, says equities remain under pressure on lingering
U.S.-China trade spat narrative
    ** Brokerage says the ongoing trade spat between the United
States and China continues to fuel commodity markets concern
    ** Expects the industry's lack of timely new large scale
project advancement will culminate in a supply deficit
    ** Cuts PT on Ascendant Resources  ASND.TO , Capstone Mining
 CS.TO , Copper Mountain  CMMC.TO , Hudbay Minerals  HBM.TO ,
Trevali Mining  TV.TO , Trilogy Metal  TMQ.TO  
    ** Adds that organic growth potential of Lundin  LUN.TO  
and Hudbay  HBM.TO  should be considered as core positions
underpinning any investment strategy looking for base metals
exposure
    ** Sees Trevali as the preferred vehicle for zinc exposure
given the company's unique established 'pure play' producer
profile - brokerage 
    ** Says negative pricing adjustments are an inevitable theme
across the base metals space this coming reporting period

 (Reporting By Arundhati Sarkar in Bengaluru)
 ((Reuters Messaging: arundhati.sarkar@.thomsonreuters.com))