Goldman Sachs says mining sector ’not compelling’

02 March 2009 | 05:03 Code : 18804 Geoscience events
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Goldman Sachs shook up its ratings on metals mining companies, saying the sector...

Goldman Sachs shook up its ratings on metals mining companies, saying the sector is "not compelling" as an investment at present, given current economic data, in a note to investors on Friday. Goldman also cut its base metal price forecasts for 2009-2012. "Lower demand assumptions suggests metals markets will be in surplus for longer, slowing the return of metals prices to marginal cost levels," the investment bank said, adding that copper is its preferred base metal, and raising its platinum price forecast. The investment bank said BHP Billiton (UK: BLT:

Which it’s keeping at conviction buy, provides the most defensive exposure to the mining sector, with its industry-leading cash returns and strong balance sheet. Goldman lifted Anglo American (


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