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Investing.com - Berenberg has reiterated its Buy rating and £1.20 price target on Ecora Resources Plc (LSE:ECOR) as the mining royalty company benefits from the recent commodity market surge.
The London-listed stock has risen 33% year-to-date, including an 18% jump over the past month alone, amid what Berenberg describes as a "melt-up moment" in global commodity markets driven by supply issues, stable demand, geopolitical risks, and a weaker U.S. dollar.
Berenberg emphasizes that investors have focused too heavily on Ecora’s Kestrel metallurgical coal royalty in Australia, while overlooking the company’s core portfolio that is expected to increase its contribution from $22 million in 2024 to $33 million in 2025 and $43 million in 2026.
The research firm notes that while major diversified miners have moved toward more concentrated portfolios, Ecora’s diversified approach provides exposure to multiple commodities currently experiencing strong price rallies.
Copper, cobalt, and uranium are specifically highlighted as commodities delivering "good rallies" that provide "direct, immediate benefits to Ecora’s bottom line," according to the Berenberg analysis from July 14, 2025.
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