BUZZ-Scotiabank raises PT on gold, silver miners

Reuters2024-11-21
BUZZ-Scotiabank raises PT on gold, silver miners

** Scotiabank raises price target on precious metal miners on positive gold and silver prices forecast

** Brokerage expects gold prices will continue to be driven by potential interest rate cuts and the weakening of the U.S. dollar $(USD)$

** Says gold prices will also "be supported by global above-average debt levels, geopolitical risk, and strong central bank buying"

** If investor caution rises, stock markets drop, geopolitical tensions escalate, or central banks buy more gold, these conditions could collectively drive up the price of gold - brokerage

Brokerage raises PT on following firms:

Company

New PT

Old PT

Upside/Downside to stock's last close

Centerra Gold CGAU.N

$10

$9

65%

Dundee Precious Metals DPM.TO

C$18

C$16.50

41%

Equinox Gold Corp EQX.TO

C$8.75

C$8.50

14%

Fortuna Mining FSM.N

$6.75

$6.50

39%

K92 Mining KNT.TO

C$10

C$9.50

12%

Lundin Gold LUG.TO

C$31.50

C$25.50

1% downside

MAG Silver Corp MAG.A

$18

$16.50

15%

Pan American Silver Corp PAAS.N

$28

$25

25%

Torex Gold Resources TXG.TO

C$37

C$33

25%

Alamos Gold AGI.N

$25

$22

34%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment