Canaccord Genuity raises PT on gold, silver miners

B2Gold

22/10/2024 16:59

** Brokerage Canaccord Genuity raises price targets on
several precious-metals miners to reflect strong commodity
prices  GOL/ 
    ** Canaccord forecasts all-in-sustaining-costs (AISC)
margins, an industry metric reflecting total expenses, to rise
13% in Q3 compared to Q2 for "senior producers" including
Newmont  NEM.N , Barrick Gold  ABX.TO , Agnico Eagle Mines
 AEM.TO , and Kinross Gold  K.TO  
    ** Brokerage raises long-term price forecast for gold to
$2,963/oz from $2,712/oz previously; raises long term silver
price outlook to $35.28/oz vs $33.58/oz previously
    ** Canaccord notes that gold equities have been closing the
gap with prices of the bullion; since the end of February,
S&P/TSX Global Gold Index  .SPTTGD  has risen 63%, outperforming
the 34% increase in gold prices  XAU= 
    Brokerage raises PT on the following firms:
 Company                  New PT    Old PT    Rating
 Newmont Corp  NEM.N      $66       $59       BUY
 Barrick Gold  ABX.TO     C$35      C$33      BUY
 Kinross Gold  K.TO       C$19      C$16.50   BUY
 Agnico Eagle Mines       C$140     C$125     BUY
  AEM.TO                                      
 Pan American Silver      $32       $28       BUY
  PAAS.N                                      
 Endeavour Mining         C$56      C$53      BUY
  EDV.TO                                      
 B2Gold  BTO.TO           C$8       C$7       BUY
 Hecla Mining  HL.N       $8        $7.75     BUY
 Coeur Mining  CDE.N      $9        $7.75     BUY
 Silvercorp Metals        C$7.50    C$7       BUY
  SVM.TO                                      
 Alamos Gold  AGI.TO      C$35      C$29.50   BUY
 Lundin Gold  LUG.TO      C$35      C$30.50   HOLD
 
 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))