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UBS has downgraded Agnico-Eagle from Buy to Neutral while raising its price target to $110 from $100, despite the stock trading near its 52-week high. The company has shown impressive returns, outperforming peers and maintaining dividends for 33 years, but UBS notes limited upside without further gold price increases. Agnico-Eagle has also made strategic acquisitions, including O3 Mining and increased stakes in Collective Mining and Cartier Resources, aligning with its growth strategy in the mining sector.
UBS has downgraded Agnico-Eagle Mines Ltd from Buy to Neutral while raising its price target from $100 to $110. Despite a strong performance, with a 120% return over two years, the firm notes limited upside potential without further increases in gold prices or a re-rating of the company's valuation. Agnico-Eagle has also completed the acquisition of O3 Mining Inc. and increased its stakes in Collective Mining Ltd. and Cartier Resources Inc., aligning with its strategy to expand in the mining sector.
UBS has upgraded Barrick Gold Corp. from Neutral to Buy, setting a price target of $22, citing a positive outlook on gold and the stock's undervaluation. Despite a recent revenue miss, the company reported strong gold production and has reached a preliminary agreement with the Malian government to resolve a dispute over the Loulo-Gounkoto mine, which could enhance future operations.
UBS has upgraded Barrick Gold shares to a Buy rating with a price target of $22, citing a positive outlook for gold and the stock's undervaluation compared to peers. Despite a recent decline in share value, Barrick Gold's strong financial health, including a 39-year dividend history and revenue growth of 13.38%, positions it favorably for recovery, especially if operations in Mali resume. Additionally, Barrick reported fourth-quarter earnings in line with expectations, though revenue fell short, while gold production exceeded estimates.
UBS has upgraded Barrick Gold to a Buy rating with a price target of USD 22, citing a positive outlook on gold and the stock's undervaluation compared to peers. Despite a recent decline in market value, Barrick Gold's strong financial health and potential resumption of operations in Mali could drive future growth. The company reported fourth-quarter earnings in line with expectations, with gold production exceeding estimates, while also reaching a preliminary agreement with the Malian government to resolve a dispute over the Loulo-Gounkoto mine.
Gold mining in the U.S. is concentrated in several key states known for their rich deposits. These states lead the nation in gold production, showcasing the country's significant role in the global gold market. The mining activities contribute to local economies and the overall industry landscape.
The recent U.S. tariffs on Canada, Mexico, and China have created significant market volatility, with automakers like General Motors and Ford facing losses due to increased costs on vehicles produced in Mexico. Conversely, stocks linked to precious metals, such as Newmont Corporation and Barrick Gold, may benefit amid rising gold prices. The tech sector, including giants like Apple and Nvidia, is also bracing for potential impacts from tariffs on Chinese imports.
Geopolitical tensions, including the Russia-Ukraine war and the Israel-Hamas conflict, are reshaping markets, with the IMF warning of a potential decline in global growth by 2025. Gold has emerged as a safe-haven asset, while oil prices stabilize amid supply concerns. Australian stocks like GrainCorp and DroneShield show varied performance, with analysts maintaining positive outlooks despite recent challenges.
Newmont Corporation (NEM) and Barrick Gold experienced a decline in stock prices following a downgrade by UBS. The market reacted negatively to the news, reflecting investor concerns about the companies' future performance.
Newmont Corporation, a leading gold mining company, reported net sales primarily from gold (89.7%), with 5.4 million ounces sold in 2023. The company operates 21 production sites across North America, Australia, South America, Africa, and New Guinea, with significant sales in the UK (64.7%) and other countries.
Newmont Corporation
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs downgrades agnico-eagle stock rating but raises price target to 110
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09:04 31.03.2025
ubs downgrades agnico-eagle stock rating but raises price target to 110
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09:01 31.03.2025
ubs upgrades barrick gold to buy with twenty two dollar target
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07:06 05.03.2025
ubs upgrades barrick gold to buy with price target of 22 dollars
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07:01 05.03.2025
ubs upgrades barrick gold to buy with new price target of 22 dollars
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Newmont and Barrick Gold shares decline after UBS downgrade
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newmont corporation reports strong gold sales and global production footprint
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13:10 30.10.2024
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