April 16, 2019 / 12:08 PM / 7 months ago

BUZZ-Credit Suisse "goes for gold", remains positive for bullion prices in 2019

** Credit Suisse starts coverage on intermediate gold producers, says remain positive on gold prices in 2019 owing to a number of macro factors

** Sets ‘outperform’ rating on Canada’s Alamos Gold and Endeavour Mining with PTs at $7, C$32 respectively

** Rates Centerra Gold, Eldorado Gold, New Gold ‘neutral’ with PTs at C$8, $6, $1 respectively

** Gold miners will operate against a backdrop of higher gold prices year-over-year in 2019; estimate an average gold price of ~$1,280/oz in 2019 - CS

** Brokerage says gold being supported by U.S.-China trade war, Brexit, concerns around slowing global economic growth and recession fears, and a more dovish U.S. Federal Reserve

** CS analysts Fahad Tariq and Mark Llanes say discussion on M&A potential among intermediate gold companies increased after mega mergers, however, doesn’t outline potential deals in the intermediate space (Reporting By Arundhati Sarkar in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below