JPMorgan cuts mining stocks after China stimulus By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 10 2024
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Source: Investing.com
JPMorgan Downgrades Mining Stocks: JPMorgan has downgraded several metals and mining stocks, including Anglo American and Boliden, due to limited expected impacts from China's recent stimulus measures and potential trade disruptions linked to the upcoming U.S. elections.
Risks and Price Volatility: The bank warns of significant downside risks for European metals and mining equities, projecting a potential decline of 10-20% in fair value if metal prices drop, with even greater risks if prices fall more than 20%.
Analyst Views on PICK
Wall Street analysts forecast PICK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PICK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 57.880
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Current: 57.880
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
