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Credit Suisse Names Top Picks For Gold Stocks In 2015

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Credit Suisse Names Top Picks For Gold Stocks In 2015

Credit Suisse issued a gold sector report Monday and named its top picks.

Analyst Anita Soni prefered Agnico Eagle Mines Ltd (USA) (NYSE: AEM) with a $35 target price “for its lower cost assets, operational consistency, strong FCF and growth in 2015.”

Eldorado Gold Corp (USA) (NYSE: EGO) with an $8 price target was preferred “for its strong balance sheet and organic growth opportunities.”

Goldcorp Inc. (USA) (NYSE: GG) with a $24 price target was the “preferred senior stock on a 12-month view for its relatively strong balance sheet and growth.”

Franco-Nevada Corporation (NYSE: FNV) with a $61 price target was the “preferred defensive gold stock due to its royalty/streaming model and ability to execute on accretive acquisitions.”

Overall, the firm was positive on gold equities for 2015. Soni saw “outperformance driven by (i) margin expansion; (ii) gold price stability; and (iii) renewed interest in the space (potential sector rotation and M&A).”

“Gold equities represent an investment in a commodity more tied to global monetary policy and consumer demand in emerging markets (in particular China and India) than alternatives in the commodity complex. Alternatives for resource investors such as oil, base metals and iron ore face the challenge of a more recent commodity price correction, the implications of which may not yet be fully priced into the stocks,” according to the analyst report.

All of the above top picks were up over 3 percent Monday with Eldorado Gold leading the group, trading up 4.01 percent at $7.01.

Latest Ratings for AEM

DateFirmActionFromTo
Oct 2020BMO CapitalMaintainsOutperform
Oct 2020BarclaysDowngradesOverweightEqual-Weight
Jul 2020ScotiaBankUpgradesSector PerformSector Outperform

View More Analyst Ratings for AEM
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