EVN surged 9.7% yesterday following its earnings accretive deal to acquire copper-gold mine Ernest Henry for $1bn from Glencore (GLEN LN). The deal will significantly push up EVN’s copper production for at least 10-years while positioning the stock as an excellent low cost gold producer moving forward. MM is bullish the Gold Sector and when we combine this macro view with the attractive new deal for EVN we see plenty of upside for this $1.8bn miner.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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MM is bullish EVN looking for 20-25% upside
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