Scotiabank raises PTs on gold firms on higher price expectations

Triple Flag Precious Metals

12/04/2023 12:58

** Brokerage Scotiabank hikes PTs on U.S.-listed shares of
Canadian and South African gold companies, anticipating higher
prices for the yellow metal
    ** Brokerage raises its gold price forecast for 2023 and
2024 to $1,900/ounce from $1,750/ounce
    ** Updated forecast reflects continued uncertainty over
economic expectations and overall geopolitical uncertainty -
brokerage 
    ** Brokerage's top-rated stocks are Barrick Gold Corp
 GOLD.N , Agnico Eagle Mines Ltd  AEM.N  and Kinross Gold Corp
 KGC.N  in the operators; Wheaton Precious Metals Corp  WPM.N 
and Triple Flag Precious Metals Corp  TFPM.N  in streamers
    
 Company                           New PT      Old PT
 Agnico Eagle Mines  AEM.N         $71         $64
 Barrick Gold  GOLD.N              $26         $24
 AngloGold Ashanti  AU.N           $28         $21.5
 Franco-Nevada  FNV.N              $169        $160
 

 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))