[miningmx.com] – SHARES in mining companies looked cheap after they had declined this year further than metal prices, said Bloomberg News drawing on data and citing the views of Paul Gait, an analyst at Sanford Bernstein.
A Bloomberg gauge of world mining shares has slumped 16 percent in 2016, more than twice as much as a measure of metals, leaving shares at the lowest compared with their product prices since at least 2003, it said.
“The sector looks cheap, and the valuations look compelling especially when you compare it against other sectors outside of commodities,” Paul Gait, an analyst at Sanford C. Bernstein Ltd., said by phone from London.
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