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Strategies & Market Trends : The Art of Investing
PICK 44.91+0.8%Nov 21 4:00 PM EST
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From: Sun Tzu10/18/2024 1:13:02 PM
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TD Cowen raises PT on gold, silver miners
Oct 18, 202413:24 UTC
ABX+3.12% NEM+2.32% AEM+5.08% K+4.07%
** Brokerage TD Cowen raises price targets on several precious-metal miners

** TD Cowen expects a strong Q3 given record-high gold prices and relatively flat cost expectations

** Geopolitical instability in the Middle East, U.S. Fed rate cuts, safe-haven flows, central bank buying and a weakening U.S. dollar are all contributing to bringing gold to multiple record highs in Q3 - TD Cowen

** Brokerage expects to see continued margin expansion for gold prices in the second half of the year

** Expects silver to have more room to run as the U.S. Fed continues to cut rates, which should help spur manufacturing demand

Brokerage raises PT on the following firms:

Company

New PT

Old PT

Rating

Barrick Gold Corp ABX

$27

$25

BUY

Newmont Corp NEM

$57

$48

HOLD

Agnico-Eagle Mines AEM

$105

$91

BUY

Kinross Gold Corp K

$13

$11

BUY

B2Gold Corp BTO

C$7.50

C$6.50

BUY

Alamos Gold Inc AGI

C$35

C$31

BUY

Lundin Gold Inc LUG

C$38

C$27

BUY

Pan American Silver PAAS

$28

$27

BUY

First Majestic Silver AG

C$9.50

C$7.50

HOLD

Endeavour Silver Corp EDR

C$7.50

C$7

BUY

MAG Silver Corp MAG

C$25

C$22

BUY

Hecla Mining HL

$8.50

$8

BUY

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