The UK’s listed renewables fund sector has faced a challenging decade, with the most aggressive interest rate hiking cycle in 40 years and record average discounts to net asset value (NAV) of 20%.
According to research by RBC Capital Markets, the sector has now reached a critical juncture, where an approach towards terminal rates—the target benchmark for long-term interest rates—and low valuations, offer “attractive potential upside” for investors.
Endeavour Mining’s upgrade of the Assafou deposit at the Tanda-Iguela property in Côte d'Ivoire delivered well beyond even the most optimistic expectations, according to US broker Stifel.
“Results from the programme further demonstrated the significance of the discovery and hinted at its potential to eventually develop into another cornerstone tier-one mine,” said the broker.
Natwest has got an upgrade from analysts at US peer JP Morgan, which reckons the bank looks undervalued in a new interest rate-cutting environment.
Now one of its top picks in the European banks sector, JP Morgan says NatWest looks materially undervalued on an earnings multiple of 4.8 times for the financial year 2025.
Ariana’s latest results from the Salinbas gold-copper project in northern Turkey (23.5% interest) suggest it could soon be the third project to reach production after Kiziltepe and Tavsan, says WHI Ireland.
Kiziltepe is in operation and Tavsan is under construction, while the assays today point to improved consistency and higher measured and indicated resources at Salinbas.