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Raymond James adjusts forecasts as uranium outperforms zinc, copper in Q3


Analysts at Raymond James are lowering their forecasts for zinc and copper prices.

For the fourth quarter, the analysts have changed their zinc price forecast to US$1.20 per lb. from US$1.40 per lb., and for 2019 they have trimmed their target price from US$1.30 per lb. to US$1.20 per lb. In 2020 they forecast a zinc price of US$1.10 per lb., down from their previous estimate of US$1.20 per lb.

For copper, the analysts have decreased their price target in the fourth quarter from US$3.20 per lb. to US$3.00 per lb., and for 2019 from US$3.25 per lb. to US$3.10 per lb. In 2020 they forecast a copper price of US$3.20 per lb., up from their previous estimate of US$3.00 per lb.

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