Apr 12 2021
A glance through the latest expert views and predictions about commodities: Nickel, Oil, Platinum, Silver, Iron Ore, Copper
-Iron ore has mark of the value trap
-Nickel to fall by up to 15%
-Increased availability put downward pressure on sliver
-Brent oil to break US$75 in Q3
By Mark Story
Nickel
With Tsingshan’s move into ‘class 2’ conversion significantly undermining the medium-term bull thematic, Citi has trimmed nickel prices between -6% and -15% with the biggest impact to 2023. The broker’s revised forecast nickel prices are US$7.61/lb (-10%) for 2021; US$6.58/lb (-6%) for 2022; and US$6.35/lb (-15%) for 2023.
As a result, Citi has substantially lowered earnings FY22 estimates (EBITDA) for pure-play nickel stocks Western Areas ((WSA)) and Nickel Mines Ltd ((NIC)) by -20% and-13% respectively. IGO Ltd’s ((IGO)) FY22 earnings (EBITDA) reduction of -9% is also impacted by lower gold price expectations.
Horizonte Minerals PLC is already a long way down the road towards becoming one of the world s top twenty nickel producers proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Why the Hub24 (ASX:HUB) share price is firing up 12% today
Sebastian Bowen | March 15, 2021 3:10pm |
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Hub24 Ltd(ASX: HUB) share price is on fire today, rising 12.32% to $24.25 a share at the time of writing.
Hub24 shares had closed last week at $21.62 a share but opened this morning at $22.80. They went as high as $24.85 soon after the open.
However, today’s strong move papers over what has been a rough and volatile month for this company. Backtrack exactly one month, and Hub24 was sitting at a new all-time high of $27.80.
However, the rout in ASX tech shares that we’ve seen over the past four weeks has not been kind to this company. By 5 March, the Hub24 share price was down to $19.48 a share, a near-30% drop from those previous highs.