BlackRock Sees Opportunities In Oversold Mining Stocks
25 October 2011 - 1:02PM
Dow Jones News
BlackRock Inc. (BLK), one of the world's largest investors in
the resources industry, sees a "massive" opportunity in mining
equities that have been hard hit in recent months but now offer
compelling valuations underpinned by companies' healthy balance
sheets.
"The fundamentals remain strong...what is going on in equity
markets shouldn't obscure that," Catherine Raw, portfolio manager
of BlackRock's natural resources equities team, said Tuesday during
a briefing in Australia.
Evy Hambro, joint chief investment officer of the equities team
that manages almost US$35.8 billion, said equities are
significantly undervalued, having been sold along with the broader
market on concerns over the global macroeconomic risks,
particularly sovereign debt challenges in Europe and more recently
concerns a global slowdown will extend into metals-hungry
China.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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