Stifel raises PTs on Canadian gold miners

Franco-Nevada

21/04/2025 15:26

** Brokerage Stifel expects gold to continue to serve as a hedge against geopolitical, inflation and systemic risks

** For Canadian miners, "we see Q1 as the "low watermark" for the year with higher production in the remainder quarters pairing with the gold price that so far in Q2 have stayed above $3,000/oz," brokerage says

** Brokerage says potential tariff impact on certain mine consumable imports, like grinding media (steel), could increase operating expenses modestly for some Canadian miners

Brokerage raises PTs on the following companies:

Company
Old PT
New PT
Upside to stock's last close
Barrick gold ABX.TO
C$34
C$37
32%
Agnico Eagle MinesAEM.TO
C$165
C$185
9.8%
Kinross Gold K.TO
C$19.5
C$23.5
14.6%
Orla Mining OLA.TO
C$15.5
C$19
21.7%
Franco-Nevada FNV.TO
C$220
C$265
11.8%
Wheaton Precious MetalsWPM.TO
C$107
C$141
21.2%

(Reporting by Katha Kalia in Bengaluru)

((Katha.Kalia@thomsonreuters.com))