Platinum

An article from Mineweb suggested that South African focused platinum producers Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) are not out of the woods yet in terms of recovering from ongoing strikes earlier this year in South Africa.

An article from Mineweb suggested that South African focused platinum producers Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) are not out of the woods yet in terms of recovering from ongoing strikes earlier this year in South Africa.

As quoted in the publication:

According to analyst consensus forecast data the three majors are regarded as: Impala Platinum (Hold), Lonmin (Outperform) and Amplats (Hold).

Perhaps the most telling sign that institutional investors are not yet ready to jump back into the platinum sector comes from the BofA Merrill Lynch SA fund manager survey which asked professional money managers how platinum was shaping up in their strategic thinking for the next 3 months. In August they asked the question of fund managers around whether they were planning to add platinum to their portfolios and the respondents saw 17% (increase), 8% (decrease), 42% (maintain) and 33% said they didn’t know.

For now, platinum shares appear to offer risk to the downside and longer-term buyers may want to look at bids at lower levels until sentiment turns.

Click here to read the full Mineweb article.

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