Monday September 27, 1:09 pm Eastern Time
RESEARCH ALERT--Lehman, Goldman up gold
companies
NEW YORK, Sept 27 (Reuters) - Analysts at Goldman Sachs and Lehman Brothers said
on Monday they raised ratings on several gold companies after U.S. gold prices soared, on
news of a five-year cap on bullion sales by European central banks that pushed bullion
prices to a five-month high.
Goldman Sachs raised Barrick Gold Corp. (NYSE:ABX - news) to trading buy from
market outperform.
Lehman Brothers, meanwhile, raised its rating on Barrick to outperform from neutral.
-- Barrick shares were at 22-7/8, up 2-3/4.
Goldman Sachs raised Lihir Gold Ltd. (NasdaqNM:LIHRY - news), Kinross Gold Corp. (NYSE:KGC - news) to market
perform from market underperform.
-- Lihir shares were at 22, up 4-7/8.
-- Kinross shares were at 3-1//16, up 9/16.
Goldman Sachs raised Newmont Mining Corp. (NYSE:NEM - news) and Battle Mountain Gold Co. (NYSE:BMG - news) to
trading buy from market perform.
-- Newmont shares were at 26, up 3-1/16.
-- Battle Mountain shares were at 2-3/4, up 9/16.
Raised rating on Placer Dome Inc. (NYSE:PDG - news) and Homestake Mining Co.(NYSE:HM - news) to market
outperform from market perform.
-- Placer Dome shares were at 14-1/2, up 2-11/16.
-- Homestake Mining shares were at 9-3/16, up 1. |
