Q2 production keeps CAML well on course to hit its full-year target for copper, and if rates rise through H2, full-year zinc and lead output could also reach guidance (albeit perhaps at the lower end). Assuming costs broadly in line with recent years, this will yield material free cash flow growth given the rally in base metal prices, which should prompt higher dividends. Our upwardly revised 2021 EBITDA and DPS estimates put CAML on an undemanding EV/EBITDA multiple of just 4x and a compelling ....
08 Jul 2021
Q2 and H1 2021 production results
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Q2 and H1 2021 production results
Central Asia Metals Plc (CAML:LON) | 221 6.6 1.4% | Mkt Cap: 401.6m
- Published:
08 Jul 2021 -
Author:
Nick Chalmers -
Pages:
4
Q2 production keeps CAML well on course to hit its full-year target for copper, and if rates rise through H2, full-year zinc and lead output could also reach guidance (albeit perhaps at the lower end). Assuming costs broadly in line with recent years, this will yield material free cash flow growth given the rally in base metal prices, which should prompt higher dividends. Our upwardly revised 2021 EBITDA and DPS estimates put CAML on an undemanding EV/EBITDA multiple of just 4x and a compelling ....