Deutsche Bank Comments on Gold Stocks ABX and GG
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Price: $9.66 +5.46%
Rating Summary:
7 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Deutsche Bank maintains a 'Buy' rating on Barrick (NYSE: ABX) and Goldcorp (NYSE: GG), but lowers price targets from $69/$55 to $61/$50, respectively.
Analyst, Jorge Beristain, on Barrick Gold: Looks attractive on valuation. Barrick is well positioned to take advantage of expected near to medium-term boom in gold prices. Dividend hike has already come into play but with strong cash flow further dividend increases are possible. 2011 acquisition of Equinox Minerals increases copper exposure, but contribution remains within range of other gold peers. Recent CEO change could herald in positive changes to long-term strategy.
For Goldcorp: GG has industry leading growth potential, with most of its assets in stable mining geographies. Additionally, further dividend hikes are possible given high free cash flow generation at current gold prices, which makes the stock attractive at current levels.
Analyst, Jorge Beristain, on Barrick Gold: Looks attractive on valuation. Barrick is well positioned to take advantage of expected near to medium-term boom in gold prices. Dividend hike has already come into play but with strong cash flow further dividend increases are possible. 2011 acquisition of Equinox Minerals increases copper exposure, but contribution remains within range of other gold peers. Recent CEO change could herald in positive changes to long-term strategy.
For Goldcorp: GG has industry leading growth potential, with most of its assets in stable mining geographies. Additionally, further dividend hikes are possible given high free cash flow generation at current gold prices, which makes the stock attractive at current levels.
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