Company News

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)