Davy Research

Mincon Group

Drilling the point home: poised for 2017/2018 rally as mining cycle recovers
Industrial machinery
Mincon Group

DAVY VIEW

Many of the factors driving Mincon’s earnings are now pointing to the upside. Peers are flagging a very strong Q1, with positive trends in consumables. In addition, miners’ capex seems to have finally bottomed and is expected to increase in the coming years. Currency has also finally become a tailwind after several years of negative effects on earnings. Risks to earnings now look very much to the upside. With the stock trading at a large discount to peers, we believe the company and the shares will have a good 2017/2018. Mincon’s full-year results are due on March 21st.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Mincon Group

    Closing Price: 81.0c

  • RATING 14/02/14

  • PREVIOUS RATING N/A

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