Precious Metals: Chinese New Year to drive spot gold prices in early 2020 - NBC

Marathon Gold

18/11/2019 11:37

** National Bank of Canada says spot gold prices could begin
to rally heading into 2020, driven by a potential increase in
physical demand tied to gold gifting associated with the Chinese
New Year on Jan. 25
    ** According to NBC, gold equities offer an excellent
opportunity to gain leverage to this consistent price rally
    ** Expects silver prices to largely track in line with gold
price in the medium-term, and says there is potential for silver
price outperformance
    ** NBC upgrades gold miner  LUG.TO  to "outperform" from
"sector perform", says company is well-positioned for a smooth
ramp-up
    ** Agnico Eagle Mines  AEM.TO , B2Gold Corp  BTO.TO ,
Iamgold Corp  IMG.TO  and Marathon Gold Corp  MOZ.TO  are among
NBC's top picks moving into 2020
    ** Downgrades Alacer Gold  ASR.TO  to "sector perform" from
"outperform" citing premium valuation; cuts PT to C$7.5 from C$8
    ** Some of the PT changes are as follows:  
 Company             PT changes 
 B2Gold Corp         Raises PT to C$8 from C$7.5
 Barrick Gold Corp   Cuts PT to C$30 from C$34
 Eldorado Gold Corp  Cuts PT to C$13.5 from C$15
 Detour Gold Corp    Cuts PT to C$13.5 from C$15
 IAMGOLD Corp        Cuts PT to C$7.25 from C$8
 Kinross Gold Corp   Cuts PT to C$8.5 from C$9.5
                     
 Newmont Goldcorp    Cuts PT to C$61 from C$64
 Corp                
 Yamana Gold Inc     Cuts target price to C$5.5
                     from C$6
 
 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
1524; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))