January 19, 2018 / 4:52 PM / 9 months ago

BUZZ-Canadian gold stocks up on bullion's gains, Canaccord optimism

** Shares of Canadian gold companies rise as bullion ticks up and on Canaccord Genuity’s optimistic outlook for 2018

** Spot gold prices up 0.57 pct, gaining after three days of declines

** Canaccord Genuity says the precious metal sector is undervalued and overshadowed by cannabis, cryptocurrency craze

** Brokerage expects Barrick Gold, Detour Gold , IAMGOLD to post Q4 earnings above estimates

** DGC up 3.5 pct, while ABX and IMG up nearly 1 pct

** Gold equities have lagged gain in bullion and represents best value in broader market, Canaccord analysts write in a note

** “Before gravity sets in, we question whether it may be prudent to hedge one’s bets while alternatives are still cheap.”

** Over past 12 months, spot gold has gained ~11 pct while ABX and DGC have lost more than ~18 pct each (Reporting by Yashaswini Swamynathan in Bengaluru)

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