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Iron Ore Miners - Kumba, qaphela!

Mining - 14 June 2020

On 14 May, in “Iron ore and steel defies COVID-19 macro gloom”, Ingham Analytics advised that they could see value in BHP and Kumba for the short-term trader. Since then both stocks have strengthened with Kumba in particular powering ahead, up by 40% to R520 from R371. This is a superb return by any standards in only one month. In the latest Searchlight note on mining and in particular iron ore mining, entitled “Kumba, qaphela!”, Ingham Analytics updates investors on the dynamics of the iron ore market and what is driving share prices. The word qaphela gives a clue to their thinking on Kumba. Do you stay? Do you go? Do you invest more?

Searchlight: R30.00

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