Upgrade Previewing fourth-quarter earnings season for TSX-listed precious metals companies, equity analysts at Stifel made a series of target price adjustments on Tuesday.
“In our view the key quarterly themes will be: (1) 2022 guidance with particular attention given to cost expectations as inflation is a real headwind, (2) reserve / resource updates, and (3) return of capital to shareholders – as it is typical of the end of year, we would expect gold miners to review capital allocation plans and potentially make announcements on dividend increases and/or share buybacks. It’s important to note that despite inflation headwinds, gold miners are still generating robust cash flows,” the firm said.
They raised their targets for
- Franco-Nevada Corp. ( “hold”) to $200 from $195. The average on the Street is $203.72.
- Americas Gold and Silver Corp. (, “hold”) to $1.25 from $1.20. Average: $1.73.