Stocks to Watch: April

APRIL 1 brings not only a new month, but a new quarter.
Stocks to Watch: April Stocks to Watch: April Stocks to Watch: April Stocks to Watch: April Stocks to Watch: April

Staff reporter

Given the Easter break and school holidays, quarterly reports will be heavily weighted to the last week of the month.

UBS noted that mining stocks outperformed in the March quarter as many commodities, including iron ore and copper, hit 10-year highs.

"Near-term the macro backdrop and commodity demand looks robust; however we expect some key drivers of the price rally to moderate in 2H21/2022 with restocking to end, supply disruptions to ease, and fund inflows to moderate/reverse," the bank said overnight.

"In our opinion we are not at the start of a 'supercycle' as China is tightening and supply/demand fundamentals are not strong enough to support prices at current levels in the coming years."

UBS said it was harder to find value at "normalised" commodity prices and moved to market-weight for the sector.

The bank downgraded BHP and Fortescue Metals Group from buy to neutral and reiterated its neutral rating for Rio Tinto.

Meanwhile, Rio's London annual general meeting next week could be tense, with the company expected to receive a strike against its remuneration report due to the hefty payments being made to outgoing executives, including former CEO J-S Jacques.

Despite gold being unloved currently, there is expected to be a bit of news from the sector.

The market is still awaiting any updates on IGO's sale of 30% of the Tropicana gold mine in Western Australia.

St Barbara is getting close to board sign-off for the Simberi sulphide expansion in Papua New Guinea.

Breaker Resources remains on track for a resource update at its Lake Roe gold project in WA.

The company expects the update to include an update to the Bombora open pit resource, a maiden Bombora underground resource and a maiden Kopai-Crescent resource.

Manuka Resources' resource update for the Wonawinta silver project was due by the end of March so is expected any day now.

Torian Resources expects to report an interim upgrade to its Mt Stirling gold resource by the third week of April.

Tietto Minerals called a trading halt yesterday over the prefeasibility study for its Abujar gold project in Cote d'Ivoire, while Nova Minerals was halted over a resource upgrade for its 3.3Moz Estelle gold project in Alaska.

Outside precious metals, Metro Mining expects to restart its Bauxite Hills mine in Queensland after an extended wet season break.

Fresh from releasing a scoping study for the Jaguar nickel project in Brazil, Centaurus Metals expects to release a value-added scoping study into the inclusion of a pressure oxidisation circuit this month.

The new floats keep on coming.

Cosmo Gold, 92 Energy, Black Canyon, Australasian Gold, Iceni Gold, Juno Minerals, NickelX, TechGen Metals, Global Lithium Resources and QMines are all hoping to list this month.

On the events front, the CRU Copper Conference will be held mid-month as a virtual forum.

Evolution Mining executive chairman Jake Klein will present to the Sydney Mining Club today, Newcrest Mining boss Sandeep Biswas will address the Melbourne Mining Club on April 22 and Alcoa of Australia vice president operations Michael Gollschewski will speak at the WA Mining Club on April 28.