Pareto prefers Lundin Mining to Boliden at current base metal prices given Lundin Mining's growth and higher production of base metals, especially copper. Boliden is also under pressure from the smelter market and the company has a lot to prove after the setbacks of the past year.
This is evident from previews ahead of the upcoming Q3 reports.
Pareto has a buy on Lundin Mining with a target price of SEK 175, while the recommendation is keep on Boliden with a target price of SEK 320.
Boliden AB is Europe's No. 3 zinc and copper producer. The group is also active in metal casting, refining, and recycling. Boliden AB also produces gold, silver and lead. Net sales break down by activity as follows:
- metal production and processing (96%);
- metal extraction (4%): primarily zinc and copper.
At the end of 2024, the group had 5 mines located in Sweden (3), Finland, and Ireland.
Net sales are distributed geographically as follows: Sweden (4%), Finland (10.2%), Nordic countries (0.6%), Germany (19%), the United Kingdom (16.5%), Europe (44.7%), North America (0.1%) and other (4.9%).
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Investor
Investor
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Global
Global
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