BAML says the time is right to invest in global miners, steel companies

BofA Merrill Lynch sees huge contrarian value in global mining and steel companies while investors remain underweight in their holdings.

A stronger global economy is coming, BAML says, noting China has been restocking iron ore, the pace of copper destocking in the country has slowed, and global steel prices have been rising.

The top buys from the firm: ATI in steel, CNX in coal, ABX and KGC in precious metals, KALU in aluminum, and SCCO in copper, plus diversified miners FCX and VALE.


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Comments (3)
  • PSalerno
    , contributor
    Comments (6655) | Send Message
    The expression "contrarian value" is very funny.
    A contrarian value is a vice.
    You can talk about a contrarian bias or opinion, and I could agree.
    11 Sep 2013, 11:11 AM Reply Like
  • 6151621
    , contributor
    Comments (1172) | Send Message
    Didn't BAML say this last year as well? I wouldn't invest in anything just because of what some analysts say.
    11 Sep 2013, 09:36 PM Reply Like
  • doc47
    , contributor
    Comments (1796) | Send Message
    Their price target for ATI must be $40, not $20, right?
    11 Sep 2013, 10:08 PM Reply Like
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