Deutsche Bank raises it's price targets for some key miners in the UK
(Kitco News) - It's no doubt a great time to be a mining company. With the electric vehicle market booming and precious metals trading near the highs, the likes of Glencore (GLEN:LSE), Anglo American (AAL:LSE), Rio Tinto (RIO:LSE) and BHP (BHP:LSE) are all surging. These are obviously UK London Stock Exchange-listed firms but even in Canada and the US it's fair to say the market is booming.
Many of the worlds leading investment banks have increased their price targets on the major mining firms. Deutsche Bank are now the latest to do so.
Deutsche Bank Raises Target Price On Antofagasta To 1100p From 940p (under the current price of 1536p)
Raises Target Price On BHP To 2050p From 1700p (current price 2151p)
Raises Target Price On Glencore To 320p From 250p (current price 279.50p)
Raises Price Target On Anglo American To 3000p From 2600p (current price 2724.0p)
The only downgrade came to Rio Tinto, as they moved from hold to buy but the price target was raised to 6000p from 5100p. (current price 6048p)
(Headlines from Livesquawk)
This means that all of the price targets are under the current values. Nevertheless, it is a strong conviction based on the bullish sentiment across the sector.