The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0436 GMT - Zeon is likely to benefit from supplying materials to battery manufacturers, Nomura analysts say in a research report. Battery makers have been focusing on stable output amid swiftly growing demand for energy storage systems, and their business conditions are now such that Zeon can leverage its track record in supplying materials to them, the analysts say. The brokerage also factors in the company's product-mix improvements stemming from increased sales of materials for European electric-vehicle applications. Nomura lifts this fiscal year's operating profit forecast for the Japanese company to 43.7 billion yen from 38.7 billion yen. It upgrades the stock to buy from neutral and raises the target price to Y2,830.0 from Y2,560.0. Shares are 4.5% higher at Y2,508.5. (ronnie.harui@wsj.com)

0213 GMT - Gold declines in Asian trade. The precious metal's current pullback below the $4,600 level is likely to be a natural correction on profit-taking after a strong upward rally, says XS.com's Rania Gule in an email. While the environment remains supportive for gold on a fundamental basis, the market has become increasingly sensitive to expectations surrounding U.S. monetary policy, she says. "Elevated inflation, combined with continued uncertainty over economic growth, fiscal conditions, and bond markets, is making the Federal Reserve's task increasingly complicated," the analyst adds. A higher interest rate environment typically weighs on nonyielding assets like gold. Spot gold drops 0.6% to $4,426.48 a troy ounce. (megan.cheah@wsj.com)

2318 GMT - The most notable point in Metals X's annual result was the absence of a dividend, says Ord Minnett. It suggests Metals X is hoarding cash for future production growth. Analyst Matthew Hope says directors are looking toward the Rentails tin-project in Tasmania reaching a final investment decision in 2027, and other possible targets. "While Metals X could become a growth stock, we cannot see imminent catalysts," Ord Minnett says as it downgrades the company to hold, from buy. "The Renison mine is steady state, Rentails project may reach final investment decision in 2027, and the permitting status of projects in companies where Metals X holds a strategic stake is unknown." Metals X ended last week at A$1.915, up 22% over the past month. Ord Minnett retains a A$2.00/share price target.(david.winning@wsj.com; @dwinningWSJ)

2230 GMT - Aeris Resources looks cheap to Ord Minnett in an increasingly more expensive sector. Sentiment toward base metals has improved, supported by strengthening commodity prices. Aeris trades on an enterprise value-to-Ebitda multiple of 2x, well below the 3.7x multiple of peers, analyst Paul Kaner says. It adds the miner's balance sheet, featuring some A$165 million in cash and no debt, is supporting elevated investment in FY27. That positions the business for future growth. "At spot prices, we forecast FY27 free cash flow of A$69 million (9% yield), increasing to A$243 million (31% yield) in FY28 as Constellation comes online," Ord Minnett says. "In our view, continued operational delivery in FY27 should drive greater market recognition of this FY28 earnings and cash flow uplift." It retains a buy call on the stock.