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

According to Mining News Pro -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.