Scotiabank raises PT on gold, silver miners

Equinox Gold

21/11/2024 13:40

** Scotiabank raises price target on precious metal miners
on positive gold and silver prices forecast
    ** Brokerage expects gold prices will continue to be driven
by potential interest rate cuts and the weakening of the U.S.
dollar (USD)
    ** Says gold prices will also "be supported by global
above-average debt levels, geopolitical risk, and strong central
bank buying"
    ** If investor caution rises, stock markets drop,
geopolitical tensions escalate, or central banks buy more gold,
these conditions could collectively drive up the price of gold -
brokerage
    Brokerage raises PT on following firms:
 Company               New PT      Old PT      Upside/Dow
                                               nside to
                                               stock's
                                               last close
 Centerra Gold         $10         $9          65%
  CGAU.N                                       
 Dundee Precious       C$18        C$16.50     41%
 Metals  DPM.TO                                
 Equinox Gold Corp     C$8.75      C$8.50      14%
  EQX.TO                                       
 Fortuna Mining        $6.75       $6.50       39%
  FSM.N                                        
 K92 Mining  KNT.TO    C$10        C$9.50      12%
 Lundin Gold  LUG.TO   C$31.50     C$25.50     1%
                                               downside
 MAG Silver Corp       $18         $16.50      15%
  MAG.A                                        
 Pan American Silver   $28         $25         25%
 Corp  PAAS.N                                  
 Torex Gold Resources  C$37        C$33        25%
  TXG.TO                                       
 Alamos Gold  AGI.N    $25         $22         34%
 

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))