Barlow’s Research Roundup: BMO analyst’s top picks in dividend-heavy energy infrastructure sector

Gina Rinehart's Hancock Prospecting has invested in nine mining and metals companies in a year, diversifying from iron ore. Recent investments include A$8.77 million in White Cliff Minerals (ASX: WCN) for a 13.5% stake, and A$125 million in Arafura Rare Earths (ASX: ARU). Hancock also holds stakes in Rare Earths Americas (NYSE: REA), MP Materials (NYSE: MP), and Lynas Rare Earths (ASX: LYC). The company has also invested in defence contractors and SpaceX.

Top U.S. banks, including JPMorgan and Bank of America, raised their prime lending rate to 7% after the Federal Reserve's first rate hike since 2023. The Fed increased rates by 0.25% and signaled further hikes, aiming to combat inflation. Bank shares fell, with JPMorgan down 1% and Goldman Sachs down 4%. Higher rates boost bank earnings but may slow economic activity and reduce loan demand.

KeyCorp (KEY) raised its 2026 revenue outlook to 8% growth, up from 7-8%, citing strong loan growth, fee-based business momentum, and the Clearwater acquisition. Non-interest income is now expected to grow 4-5%, with adjusted non-interest income projected to increase 6-7%. The company also affirmed a 20%+ sequential rise in third-quarter investment-banking fees. KeyCorp anticipates 4-5% average loan growth and 9-11% net interest income growth for 2026, supported by solid loan demand and deposit

National Bank Financial upgraded Enbridge (ENB) to 'outperform' citing its North American oil production growth and recent acquisitions. Analyst Patrick Kenny raised the target price to $82. TD Cowen upgraded TC Energy (TRP) to 'buy' seeing a 16% pullback as an attractive entry point. National Bank initiated coverage of MDA Space (MDA) with an 'outperform' rating, highlighting its space investment growth potential.

TC Energy Corp. (TRP) is ready to invest in its Alberta natural gas network to meet growing demand, according to the company. This follows an Alberta cabinet report suggesting TC's expansion plans may not align with projected demand growth, citing market failure concerns. TC has invested $15 billion in the past decade and plans $1 billion more in projects, calling for cooperation to support Alberta's growth.

Zinc prices fell $90 to $4,015/tonne, with the 3-month contract at $3,872. Backwardation held at $143. Nexa Resources (NEXA) and Buenaventura (BVN) shares rose 1.29% and 0.56% respectively, recovering from Thursday's losses. Latin American zinc production is declining, with Peru's output down 10.2% in 2026. Boliden agreed to acquire Nexa for ~$1.31B, valuing the company at ~$3.67B.