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Analyst Considers Implications of $1,000/Oz Gold on Gold Stocks, Sees Eldorado, AuRico Thriving, Barrick, Newmont, Agnico Surviving

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Barry Allan of Mackie Research issued an interesting note Monday morning which discussed the likely effects on gold-related stocks should the commodity fall to $1,000 per ounce or below.

Allan does not believe gold will fall to levels below $1,000 per ounce amid strong long-term demand moving forward.

The Mackie analyst ran stress tests on the following stocks, placing each into a "Thrives," "Survives" or "Dies" category (only US-listed stocks are seen below).

Thrives:

  • Eldorado Gold (NYSE: EGO)
  • AuRico Gold (NYSE: AUQ)

Survives:

  • Barrick Gold (NYSE: ABX)
  • Newmont Mining (NYSE: NEM)
  • Agnico-Eagle Mines (NYSE: AEM)
  • New Gold (NYSE: NGD)
  • Alamos Gold (NYSE: AGI)
  • IAMGOLD (NYSE: IAG)

Dies:

  • Lake Shore Gold Corp. (NYSE: LSG)

Latest Ratings for EGO

DateFirmActionFromTo
Oct 2020RBC CapitalUpgradesUnderperformSector Perform
Feb 2020CIBCUpgradesNeutralOutperformer
Jan 2020Credit SuisseDowngradesNeutralUnderperform

View More Analyst Ratings for EGO
View the Latest Analyst Ratings

 

Related Articles (EGO + AUQ)

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Posted-In: Analyst Color Commodities Markets Analyst Ratings

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