Latest News

Horizonte Minerals started out with buy rating from Cantor Fitzgerald


Horizonte Minerals PLC (LON:HZM)(TSX:HZM) has been given a ‘buy’ rating by broker Cantor Fitzgerald as it started covering the Brazil-focused nickel development company.

The AIM-listed company “offers good value to investors looking for exposure to the growing nickel market”, the broker said in a note to clients on Monday.

Horizonte has two top-tier nickel projects located in the Carajás Mining district in north east Brazil, with project financing underway for the lower-risk Araguaia project.

Araguaia will produce ferronickel for the stainless steel industry while work continues to develop the Vermelho project into a producer of nickel and cobalt sulphate for the battery and EV markets.

“Both projects show robust valuations even at low nickel prices,” said Cantor analyst Matthew O’Keefe.

A sum-of-parts net asset value estimate for Horizonte results in a 23p/C$0.40 per share target price, including adjusting for the expectation that the company will be successful in lining up project financing for Araguaia in 2021.

The Hut Group, Games Workshop and Vistry offer insight into UK festive spending on Tuesday

Previous article

FTSE 100 ends lower on mining sector dip; US tech stocks fall after Trump ban brings additional scru

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News