Image Source: Annual Report 2017.
Investment Thesis
Boliden Group (BDNNF) has been one of the best performing global mining stocks over the past four years. Although the company outperforms its base metal competitors, closed mines as well as lower EBITDA growth adversely affected its share price performance.
Source: Company data.
Analysts perceive the market to remain structurally tight and zinc prices to remain elevated with producers earning above normal returns and margins. Boliden is an ideal way to gain meaningful zinc exposure in Europe. Boliden has leveraged on solid operational performance through