Proactiveinvestors recommends
Additional Information
Market: LSE
Sector: General Mining
EPIC: ENRC
Latest Price: 264.10p  (-2.76% Descending)
52-week High: 490.00p
52-week Low: 201.90p
Market Cap: 3,400.95M
1 year chart More charts
digital-look imported chart image
Deal ENRC Tax Free*
*subject to change and depends on individual circumstances.
1 day chart More charts
digital-look imported chart image
Advertisement
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Eurasian Natural Resources
www.enrc.com
Deal Eurasian Natural Resources Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.

Eurasia Natural Resources is a Kazakhstan based natural resources company with operations in exploration, mining, processing, power generation, logistics and marketing. The company has a strong focus on Iron Ore, Bauxite, Ferroalloys and Manganese.

Full Eurasian Natural Resources profile here
Pdf

Goldman Sachs initiates coverage of ENRC with 1,100 pence price target

June 20 2011, 9:13am The ultra-bullish valuation suggests investors could make a more than 50 per cent return buying now. At 9 am ENRC was trading 12 pence higher at 728 pence.

Goldman Sachs this morning initiated coverage of Eurasian Natural Resources (LON:ENRC) with a buy recommendation and 1,110 pence a share price target.

The broker has also added the stock to its pan-European buy-list, which consists of a small selection of shares it expects to significantly outperform the market.

The ultra-bullish valuation suggests investors could make a more than 50 per cent return buying now. At 9 am ENRC was trading 12 pence higher at 728 pence.

The source of the opportunity, according to Goldman, is the company’s exposure to “tight or pro-cyclical commodities” such as iron, stainless steel, aluminum and copper. 

Analyst Yulia Chekunaeva  expects the results of a corporate governance review to buoy confidence in the stock, which will be helped by positive news flow from green field projects in Africa, which should help drive top-line growth.

“We believe that ENRC’s exposure to tight and or pro-cyclical commodities, a regional sales skew towards BRICs and low production costs strongly position the company to benefit from the pickup in global growth that our economists expect and strengthening commodities momentum,” Goldman mining expert added. 

“Since the beginning of the year, the stock has underperformed its commodities basket and the MSCI EMEA by 35 per cent. 

“We believe this provides an attractive entry point to gain exposure to long-term commodities growth.”

ENRC was in the business headlines last week as the rumour mill suggested it was a takeover target of commodities trader Glencore.

Glencore went on record as saying it wasn’t interested in doing a deal imminently, which prevents it from bidding for six months, but stopped short of ruling out a takeover at a later date.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.