Gold and copper miner EVN advanced 3.4% on Monday, taking the stock to fresh all-time highs and up +88% year-to-date. Considering our bullish outlook towards both copper and gold, and EVN’s strong operational execution, MM is not considering taking a profit from our EVN position in the near future. However, we remain cognisant that long gold is a very crowded space at present and another ~15% correction, from some level, feels likely before Christmas.
- We expect EVN to trade 5-10% higher in the coming weeks. We are long EVN in our Active Growth Portfolio.
MM is long and bullish EVN
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