- Citigroup is bearish on the gold mining sector but it does prefer some miners to others, namely Buy-rated Goldcorp (GG -0.7%) and Barrick Gold (ABX+0.4%) as well as Neutral-rated Newmont Mining (NEM +0.8%).
- Citi sees GG as one of the few large gold producers set to deliver meaningful low-cost production growth over the next several years, and management continues to expect positive free cash flow beginning in Q4 at $1,200/oz. gold; the firm thinks ABX is in a better position to manage free cash generation after divesting high-cost assets, focusing on cost reductions and dialing back major project spending; NEM expects to generate positive free cash flow in 2014 at $1,250/oz. gold and has done a good job managing costs and dialing back capex.
- The firm slaps Sell ratings on Gold Fields (GFI -0.7%), Harmony Gold (HMY +1.1%) and Sibanye Gold (SBGL +1%).
- Source: Seeking Alpha
Give a more longer term perspective of Economic trends and the Macroeconomic and Monetary Interdependence of the Global Economy. With the Background of this approach the blog will deal with the implications for Investment decisions. The author believes that China and the Asia Pacific Region are and will be the powerhouse for the global economic growth for years to come. It will also cover IT because of its momentum driver for economic growth.
Thursday 29 May 2014
Despite hating gold mining sector, Citi OKs Goldcorp, Barrick, Newmont
Popular Posts
-
Supply growth is seen putting downward pressure on copper prices this year, but the falls are expected to be cushioned by steady demand fo...
-
Across the Gulf region, most conventional lenders and Islamic banks cleaned up their balance sheets from the debris of the financial crisi...
-
What to look out for in 2014 Over the past few months it’s become clear that Tencent and Alibaba are butting heads over who will get a...
-
Japan's health ministry is looking into a problem with a multi-million-dollar, state-backed research project on Alzheimer's diseas...
-
The WSJ reports,"LaSalle Investment Management has raised $1 billion this year to invest in real-estate assets in Asia, in th...
-
Brazil's current account deficit narrowed in September from the previous month as the foreign trade surplus firmed, but the improvemen...
-
"LNG STUCK ON AMBER America’s slow move toward exporting its natural gas bounty could be delayed still further . The Obama admin...
-
Japan and the United States crossed swords over automobile issues in three-day bilateral talks held in Tokyo through Friday in parallel to...
-
The ship-building industry may be set for a turnaround. A consultant that tracks the global shipping industry reports 153 large new cargo ...
-
"US bonds were crushed on Friday on the back of stronger-than-expected payroll data. Long-bond yields jumped 21 basis points (bps) to ...