Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Once again, thank you for the great service. My question, is relevant to the "bruised and battered" EVN stock. In the context of the last week price fall - Can you see a scenario in which the EVN stock becomes a takeover target? I would be very interested in your opinion, regarding this issue. Regards, Robert
Hi Robert,
EVN is currently a $6.2bn gold and copper miner, interestingly a very similar size to OZ Minerals when BHP Group purchased the copper miner in 2023 hence its is relevant to their business unlike most lithium alternatives that people hope will find themselves under the M&A microscope. There is plenty of speculation that copper is a commodity that will be in shortage moving forward while gold was in the cross hairs last year when Newmont (NEM US) purchased Newcrest (NCM) hence a bid for EVN certainly cannot be discounted.
We believe EVN is a quality business enduring a share price lull hence it may be of interest to other gold &/or copper producers but its not the reason MM increased our position from 3% to 5% this week, that was purely a valuation move following the stocks ~25% dip plus we remain bullish towards both copper & gold medium term, any M&A move would be simply icing on the cake.
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