fwiw Taking a bullish tone on Canadian miners, equity analysts at National Bank raised their target prices for a large group of TSX-listed stocks on Friday.
The firm has a positive view of the macroeconomic outlook for the gold price due to near-term safe-haven demand and an environment of persistently low or negative real rates
It increased its long-term gold price forecast by $25 per ounce to $1,475.
Analyst Michael Parkin’s changes included:
- Barrick Gold Corp. (ABX-T, “outperform”) to $44 from $42. The average on the Street is $32.64.
- Kinross Gold Corp. (K-T, “outperform”) to $17 from $16. Average: $15.37.
- Kirkland Lake Gold Corp. (KL-T, “sector perform”) to $79 from $76. Average: $76.02.
- Eldorado Gold Corp. (ELD-T, “outperform”) to $21 from $21.50. Average: $18.86.
CT