Deutsche Bank Q2 Preview on Americas Metals and Mining: Cutting Price Targets on Eleven Stocks
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Price: $2.07 -3.72%
Rating Summary:
1 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 9 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Deutsche Bank Q2 Preview on Americas Metals and Mining:
Analyst, Jorge Beristain, said, "Most Metals & Mining (M&M) equities posted negative returns in 2Q12, in sync with declining commodity prices on fears of escalation of European sovereign risk and deterioration in “real” economic activity in US/China. Capex overruns, cost inflation and rising country risk (ex-US/Canada) with governments stepping in to garner a larger share of the mining profits have altogether led to further sector de-rating. While some more pain in 3Q12 is possible, we feel that much of the pessimism is already priced in by the market. We anticipate some level of government intervention to stimulate waning growth, benefitting commodity prices and in-turn producers by 4Q12."
This morning, Beristain upgrades Thompson Creek (NYSE: TC) from Hold to Buy, but downgrades Pan American (Nasdaq: PAAS) from Buy to Hold.
Deutsche Bank also made several price targets:
For Alcoa (NYSE: AA)(Hold), price target lowered from $10 to $9.
Cliffs Natural (NYSE: CLF)(Buy), PT lowered from $105 to $80.
Freeport-McMoRan (NYSE: FCX)(Buy), PT lowered from $52 to $45.
Barrick Gold Corporation (NYSE: ABX)(Buy), PT lowered from $69 to $61.
Coeur d'Alene Mines Corporation (NYSE: CDE)(Buy), PT cut from $38 to $30.
Goldcorp Inc. (NYSE: GG)(Buy), PT lowered from $55 to $50.
Hecla Mining Co. (NYSE: HL)(Hold), PT lowered from $5.50 to $5.00.
Kinross Gold (NYSE: KGC)(Buy), PT lowered from $16.50 to $14.50.
Newmont Mining Corp. (NYSE: NEM)(Hold), PT cut from $64 to $57.
Pan American (Nasdaq: PAAS)(Hold), PT lowered from $31 to $22.
Silver Standard (Nasdaq: SSRI)(Hold), PT lowered from $18 to $14.
Analyst, Jorge Beristain, said, "Most Metals & Mining (M&M) equities posted negative returns in 2Q12, in sync with declining commodity prices on fears of escalation of European sovereign risk and deterioration in “real” economic activity in US/China. Capex overruns, cost inflation and rising country risk (ex-US/Canada) with governments stepping in to garner a larger share of the mining profits have altogether led to further sector de-rating. While some more pain in 3Q12 is possible, we feel that much of the pessimism is already priced in by the market. We anticipate some level of government intervention to stimulate waning growth, benefitting commodity prices and in-turn producers by 4Q12."
This morning, Beristain upgrades Thompson Creek (NYSE: TC) from Hold to Buy, but downgrades Pan American (Nasdaq: PAAS) from Buy to Hold.
Deutsche Bank also made several price targets:
For Alcoa (NYSE: AA)(Hold), price target lowered from $10 to $9.
Cliffs Natural (NYSE: CLF)(Buy), PT lowered from $105 to $80.
Freeport-McMoRan (NYSE: FCX)(Buy), PT lowered from $52 to $45.
Barrick Gold Corporation (NYSE: ABX)(Buy), PT lowered from $69 to $61.
Coeur d'Alene Mines Corporation (NYSE: CDE)(Buy), PT cut from $38 to $30.
Goldcorp Inc. (NYSE: GG)(Buy), PT lowered from $55 to $50.
Hecla Mining Co. (NYSE: HL)(Hold), PT lowered from $5.50 to $5.00.
Kinross Gold (NYSE: KGC)(Buy), PT lowered from $16.50 to $14.50.
Newmont Mining Corp. (NYSE: NEM)(Hold), PT cut from $64 to $57.
Pan American (Nasdaq: PAAS)(Hold), PT lowered from $31 to $22.
Silver Standard (Nasdaq: SSRI)(Hold), PT lowered from $18 to $14.
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