Canaccord Genuity raises PT on gold, silver miners
** Brokerage Canaccord Genuity raises price targets on several precious-metals miners to reflect strong commodity prices GOL/
** Canaccord forecasts all-in-sustaining-costs (AISC) margins, an industry metric reflecting total expenses, to rise 13% in Q3 compared to Q2 for "senior producers" including Newmont NEM.N, Barrick Gold ABX.TO, Agnico Eagle MinesAEM.TO, and Kinross Gold K.TO
** Brokerage raises long-term price forecast for gold to $2,963/oz from $2,712/oz previously; raises long term silver price outlook to $35.28/oz vs $33.58/oz previously
** Canaccord notes that gold equities have been closing the gap with prices of the bullion; since the end of February, S&P/TSX Global Gold Index .SPTTGD has risen 63%, outperforming the 34% increase in gold prices XAU=
Brokerage raises PT on the following firms:
Company | New PT | Old PT | Rating |
Newmont Corp NEM.N | $66 | $59 | BUY |
Barrick Gold ABX.TO | C$35 | C$33 | BUY |
Kinross Gold K.TO | C$19 | C$16.50 | BUY |
Agnico Eagle Mines AEM.TO | C$140 | C$125 | BUY |
Pan American Silver PAAS.N | $32 | $28 | BUY |
Endeavour Mining EDV.TO | C$56 | C$53 | BUY |
B2Gold BTO.TO | C$8 | C$7 | BUY |
Hecla Mining HL.N | $8 | $7.75 | BUY |
Coeur Mining CDE.N | $9 | $7.75 | BUY |
Silvercorp Metals SVM.TO | C$7.50 | C$7 | BUY |
Alamos Gold AGI.TO | C$35 | C$29.50 | BUY |
Lundin Gold LUG.TO | C$35 | C$30.50 | HOLD |
Reporting by Pooja Menon in Bengaluru
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