Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Market Matters Team A1M - AIC Mines has lifted with the copper price from around 41c to 56c in the last month (approx 35%) - What's you view on this copper play - I know you prefer BHP but do you see further upside - at what price is there a good risk reward with A1M? Can I have your current view on TWE - It has been trending lower since early April when it reached $13.01. regards Debbie
Hi Debbie,
For a pure copper play we actually prefer Sandfire Resources (SFR) which we hold in our Active Growth and Emerging Companies Portfolios. We like BHP Group (BHP) and Evolution Mining (EVN) for their resources mix which in both cases includes 25-35% in copper.
AIC is a leveraged Cu play which is likely to experience greater volatility than the likes of SFR, but medium term we are bullish on the industrial metal which is a bullish read through on AIC but the next 10% move feels like a coin toss after its recent strong advance. A1M is on our radar for the Emerging Companies Portfolio, with ideal entry into a 10% pullback or a period of consolidation at least.
Treasury Wines (TWE) has been frustrating of late after “popping” higher when Chinese tariffs were removed, i.e. a classic case of buy on rumour and sell on fact. However, we believe the stocks cheap under $12 and aren’t planning on cutting our position at this stage.
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