Rus News Journal

Changes of recommendations

Analysts of investment company the Three Dialogue have raised an estimation of actions GMK Norilsk nickel from $180 to $220. The recommendation to buy is kept without change. Revision of the look-ahead prices of nickel became the increase reason. in connection with continuation of a rise in prices for the metal, caused by its deficiency in the world markets and reduction of warehouse stocks which are traced by the London stock exchange of metals, the look-ahead prices of nickel for 2007 are raised about $25 thousand to $37,5 thousand for ton - it is told in the report. Thus analysts do not exclude within a year of correction of the prices. dynamics of exchange futures allows to expect correction of the prices for nickel in July - December, 2007, - they consider. Is is a deterrent for stock quotes ` Norilsk nickel ` . Thus additional support to shares of company will be rendered by expectations of considerable intermediate dividends in the middle of the year (or the repayment the emitter of the actions for so considerable sum) and forthcoming allocation from structure of the company of power actives. considering the sum of money resources on balance of the company in the end of 2006 ($1,2 mlrd) and look-ahead free monetary streams in 2007 ($7 mlrd), the size of payments to shareholders should be impressing - to $40 on the action, - analysts consider. - in view of requirements of the head of the company Vladimir Potanin for means for the repayment of a share of the partner in ` Norilsk nickel ` monetary payments to shareholders in this or that form look inevitable .
According to analyst FK Uralsib Cyril Chujko ( to buy, $180), the defining factor influencing cost of the company, during the current year will be the prices for nickel and copper as in a company gain on them it is necessary the maximum contribution. The copper share in a company gain makes 27 %, nickel - 53 %. However, according to an analyst, the current prices for these metals are at marginal levels. The price in $40 thousand for nickel ton very high, and at such levels many companies using metal in the manufacture, will aspire to replace with its other metals or to reduce use of materials on its basis. As a result, according to analysts, during the current year results of the company will be close to results of 2006. Deducing from its structure of the generating companies becomes the positive factor influencing the company. the positive consists that all shareholders will receive a share proportional to their shares in GMK, that is to the price of one action $17 " will be added in addition; - the analyst has noted. In addition to it company cost, undoubtedly, will add and expected high dividends. Now there is a process of divorce of basic shareholders GMK - Michael Prokhorov and Vladimir Potanin. Last redeems a share of the first, and for this purpose he should borrow money. Therefore next year it is necessary to expect high dividendnyh payments as thus it will return itself(himself) the means spent for the repayment - Cyril Chujko has noted.

This material has information character and cannot be considered as the invitation or prompting to get or sell securities