EVN has bounced well over 30% since it endured a painful 1-2 of a significant capital raise in 2023, followed by a disappointing quarterly update in January—here we go again this month. This morning, the gold and copper miner should start the day strongly following very supportive overnight moves in both metals. However, we wouldn’t be buying ahead of this month’s result; hence, we question whether we should hold the miner even though we are very keen on its gold-copper mix in the medium term.
- We can see EVN struggling to break above $4 ahead of its update on the 17th April.
- We hold 5% of our Active Growth Portfolio in EVN; hence, we do have the option to trim our position, a move we are considering.
MM is considering trimming EVN ahead of this month’s quarterly result
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