BofA lifts price targets for miners on bullish gold and silver outlook

Iamgold

29/08/2025 15:43

** BofA Global Research raises its price target on several miners, citing bullish long-term forecast for gold and silver prices driven by persistent macroeconomic and geopolitical pressures

** "The precious metals group now stands out as the leader in free cash flow generation" -BofA

** For gold and silver companies, long-term commodity prices matter because they are important drivers of discounted cash flow and net asset value valuations, brokerage adds

Brokerage changes PT on the following companies:

Company
New PT
Old PT
Upside/downside to stock's last close
Newmont Corp NEM.N
$104
$87
42.5% upside
Barrick Mining B.N
$29
$24.5
10.9% upside
Agnico Eagle Mines AEM.N
$209
$176
50.2% upside
IAMGOLD IMG.TO
C$15.50
C$13
25.8% upside
SSR Mining SSRM.TO
C$17.25
C$14.50
31.4% downside
Freeport-McMoRan FCX.N
$50
$49
12.7% upside
Hudbay Minerals HBM.TO
C$18
C$16
11% upside

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))