0213 GMT - Glencore, Anglo American, Teck, and Alcoa are Jefferies' top picks among mining stocks this year. While we have recently become more cautious on the near-term outlook for the sector due to cyclical factors, and we believe the risk to consensus estimates is to the downside, it is too late to make downgrades to our ratings, in our view," analysts at the bank write. "All things considered, our bias is to buy our preferred miners and steel producers following the recent significant weakness," they add. Jefferies also prefer Freeport-McMoRan and Lundin Mining, citing a longer run exposure to copper. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 05, 2025 21:13 ET (02:13 GMT)
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