Collected Wisdom: The miners' numbers

This week we look at Rio Tinto, South32, OZ Minerals, Evolution Mining, BHP and more.

Summary: Rio Tinto posted strong first quarter production numbers, and analyst consensus is a hold as many are bearish on future prices of iron ore. Cost cutting measures at South32 (S32) are seen as a positive, with the stock trading in line with consensus 12 month price targets. OZ Minerals’ production numbers showed it was on track to meet gold and copper output guidance, with consensus remaining a hold, while Evolution Mining (EVN) also remains a hold, with a small increase in gold production numbers for the quarter. BHP’s downgraded guidance for FY16 sees it remain a hold in analysts’ eyes, and while Woodside reported lower numbers, these were stronger than anticipated.

Key take out: Oil Search (OSH) is the only stock with a buy consensus for this edition of Collected Wisdom, with analysts praising long term production growth and are tipping the company will hit upper end of guidance this year.



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