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Elon Musk's net worth has plummeted by approximately $121 billion since December, now estimated at $337.7 billion, making him still the world's richest person. This decline coincides with widespread protests against him and Tesla, including the "Tesla Takedown" demonstrations, which have negatively impacted Tesla's stock, down about 45% from its December peak. Amidst these challenges, Musk has threatened legal action against protest organizers while facing scrutiny over the effects of new tariffs on the automotive industry.
Agnico Eagle Mines has been downgraded by UBS due to limited upside potential as gold prices exceed $3,000. The market sentiment reflects a challenging environment, with investors feeling lost amid current stock market conditions.
Shares of Canada Goose Holdings plummeted to an all-time low after Barclays downgraded the stock to "underweight" and reduced the price target from $10 to $8, citing increased competition and seasonal revenue volatility. The analysts also highlighted potential margin pressures from looming U.S. tariffs on Canadian imports, as the company relies heavily on its Canadian manufacturing for down-filled outerwear. The stock has lost approximately 35% of its value over the past year, closing at $7.86.
UBS has downgraded Agnico Eagle Mines from 'Buy' to 'Neutral', raising its price target to $110 amid high valuation concerns and wider market conditions. While earnings estimates for 2025 and 2026 have been increased, the stock's growth potential appears limited, prompting interest in alternatives like Barrick Gold and Franco-Nevada. The upward revision of gold prices suggests potential benefits for Agnico, but investors may seek more dynamic opportunities in the sector.
Bank of America has downgraded Bank of Nova Scotia to Neutral from Buy, citing a significant shift in the operating outlook due to trade tensions and economic uncertainty. The price target has been reduced from C$82 to C$70, with concerns over the bank's exposure to Mexico and Latin America, as well as its CET1 capital ratio being below peers. BofA prefers Royal Bank of Canada, TD Bank, and CIBC amid the current economic challenges.
Agnico Eagle Mines Limited, a Canadian gold mining company, has been downgraded from Buy to Neutral by UBS, with a price target raised from USD 100 to USD 110. The company operates in Canada, Australia, Finland, and Mexico, with notable sites including the Canadian Malartic complex and Detour Lake. Its exploration projects span multiple regions, enhancing its portfolio in the precious metals sector.
Agnico Eagle Mines Limited, a Canadian gold mining company, has been downgraded to Neutral from Buy by UBS, with a price target increase to US$110 from US$100. The company operates in Canada, Australia, Finland, and Mexico, with a diverse portfolio of mines and exploration projects across these regions. Key operations include the Canadian Malartic Complex, Detour Lake, and Fosterville, among others.
UBS has recommended investing in gold mining companies Endeavour, Barrick, and Franco-Nevada. This endorsement highlights the potential for growth in the gold sector amid current market conditions. Investors are encouraged to consider these stocks for their portfolios.
Bank of America has highlighted "idiosyncratic risks" for Scotiabank, particularly its exposure to Mexico and Latin America, along with below-average capital levels compared to peers. Scotiabank operates through various segments, including Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets, providing a comprehensive range of financial services to diverse clients.
Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
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Elon Musk's net worth plummets amid Tesla stock decline and protests
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Agnico Eagle Mines downgraded by UBS amid gold price concerns
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ubs downgrades agnico eagle mines to neutral despite positive earnings outlook
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BofA downgrades Bank of Nova Scotia amid economic uncertainty and trade tensions
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16:53 31.03.2025
agnico eagle mines downgraded to neutral with price target increase
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ubs recommends investment in gold miners endeavour barrick and franco-nevada
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