Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0553 ET – Valterra Platinum posted a solid beat to first-half earnings and remains a top pick for investors in the platinum group metals sector, RBC Capital Markets analysts Ben Davis and Laura Chan say in a research note. The Anglo American spinoff benefited from stronger purchases of concentrates and tolling, which supported the dividend coming in 4% ahead of RBC’s estimates, the analysts say. The price for a basket of stocks in the PGM sector—which encompasses the mining, refining and recycling of six metals including platinum—grew 7% over the last month, with the analysts continuing to see upside, they add. “We continue to see Valterra as the more defensive, higher quality name to own within the PGM universe due to its relatively strong balance sheet and ability to invest throughout the cycle.” Shares trade 7.7% higher at 1189.21 South African rand. ([email protected])