Goldcorp, Inmet top gold picksNP says Goldcorp, Inmet top gold picks at UBS
Goldcorp Inc (2) (C:G)
Shares Issued 709,438,231
Last Close 3/25/2008 $40.70
Wednesday March 26 2008 - In the News
Also Inmet Mining Corp (C:IMN) In the News
The National Post reports in its Wednesday, March 26, edition that UBS analyst Tony Lesiak is bullish on gold. The Post's Alia McMullan writes that Mr. Lesiak says gold appears relatively cheap compared with oil on a historical basis. He sees the potential for gold to more than double to levels where it will regain its long-term average relationship. However, he says the price of gold is hard to call at present. He says prices may not move much in the coming weeks. "In the near-term, fundamental value will not mean very much: positioning and the need to raise liquidity will determine what happens to precious metals and indeed other asset classes," he says. In the equity markets, Mr. Lesiak says gold valuations are in "fair territory" following last week's sell-off. He says Goldcorp remains UBS's top stock pick among the senior gold producers due to its low political risk, leverage to gold, excellent internal growth potential and the possibility of numerous re-rating catalysts in 2008. Iamgold is the top pick among the mid-tier gold stocks. He says the stock is oversold for underperforming. He says Inmet holds good exploration potential.
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