Equity research notes on the sector
10/15/2007
Stoylensky GOK: Undervalued Subsidiary of NLMK
Research note also related to: Metals, Stoilensky GOK
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Performance of the investment ideas presented in the equity research note:
| Shares | Price on the day of idea release* | Target price | Current price* | Current returns | Highest returns |
|---|
| Stoylensky GOK |
-- |
943 |
-- |
-- |
-- |
|
03/09/2004
Iron ore prices are rising in line with all metal commodities. As a result, Russia’s raw material and metal producers are striving to enter foreign markets where prices are higher. Domestic producers are understandably interested in exercising control over "raw material" assets in order to keep ore supplies at "their own" prices. In view of this, mining and processing integrated works (MPIWs) have long found ways and means to solve the supply issue. Companies without their own raw material reserves are forced to pay a lot for MPIWs to their current owners or tap new fields. In our opinion, the investment appeal of MPIWs is destined to grow, since global metal trends are looking bullish in the short and mid-term outlook.
Research note also related to: Metals, Karelski Okatysh (Karelian Pellet), Lebedinsky GOK, Mihailovsky GOK
*Market prices are given either as the prices of the last transactions in a previous session on an exchange (MICEX and RTS) or the average between the best ask price and the best bid price on RTS as of a previous session's close.
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0.03
0.025
