EVN rallied +3.2% on Monday as its starts to recover a decent portion of the dip post its FY report where EBITDA of $844.5mn came in ~5% below expectations – another example of an ASX miner whose struggled with costs of late. However we continue to like EVN supported by our medium-term bullish view on both gold & copper.
- We like EVN for both its gold and copper revenue stream with the latter already a ~25% contributor – we hold a 3% EVN weighting in our Flagship Growth Portfolio.
MM is long and bullish EVN
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