- 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
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