Why Macquarie Group Ltd has upgraded Orocobre Limited

Global advisory firm Macquarie Group Ltd (ASX: MQG) has upgraded mining exploration company Orocobre Limited (ASX: ORE) to outperform from neutral.

Orocobre focuses on the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina.

Macquarie has made the stock upgrade after the significant fall in share price out of Orocobre this calendar year, readjusting its target price to $6.80 from $7.15.

Orocobre shares were up 1.6% to $5.45 at the time of writing, but have fallen 26.7% from its 52-week high of $7.44.

Resource shares have pushed higher to start the post-Easter trading week as news of a trade war between the US and China simmers down.

Shares in BHP Billiton Limited (ASX: BHP) climbed higher today up 1.7% to $28.71 at the time of writing, with similar rises also noted for Rio Tinto Limited (ASX: RIO) which was up 1.5% to $73.80 at the time of writing and South32 Ltd (ASX: S32) – also on the rise at $3.23.

Don’t Buy A SINGLE Stock Until You Read This

While conflict overseas is all media talking-heads seem to mention these days, the billionaire founder of Tesla is losing sleep over what he sees as a far bigger threat.

Elon Musk Warns: This has “vastly more risk than North Korea”

If you missed your opportunity to get in on Google, Microsoft, or Amazon in their early days, don't let it happen again. This emerging technology trend could offer a second chance for anyone who wishes they took part in these millionaire-maker stocks.

Click here to discover more!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!