Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: jjkirk who wrote (21594)	11/8/2002 12:57:07 PM
From: Nelson958	Read Replies (2) of 36161

JP Morgan on Gold : JP Morgan initiated on gold companies, saying in short term dollar weakness is raising gold and the gold stocks. By 1H03, military action against Iraq should take gold higher, and firm forecasting $335/oz in Q1 '03... Initiating on Glamis Gold (GLG 8.96 +0.16) with Overweight rating, noting that stock looks expensive relative to its peers; however, firm thinks investors include GLG's growth projects in their expectations. This growth profile with high-return projects is rare in today's gold sector, and as management delivers on its growth plans, firm expects company to continue to moderately outperform other North American gold stocks. Also, firm starts Meridian Gold (MDG 18.05 +0.30) and Agnico-Eagle Mines (AEM 12.45 +0.07) with Neutral ratings, and starts Goldcorp (GG 11.08 +0.14) with Underweight rating.

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