Capricorn Metals Ltd (CMM.AU) saw its stock price soar 5.56% during intraday trading on Tuesday, following a positive analyst note from Macquarie.
The bank identified Australian gold miners as appearing undervalued at current spot gold prices, suggesting potential for around 20% valuation upside. In its research note, Macquarie specifically named Capricorn Metals as its preferred mid-cap stock within the sector, highlighting the company's position amid favorable conditions for gold producers.
The positive assessment from the prominent financial institution likely contributed to increased investor confidence and buying activity in Capricorn Metals shares during the trading session.
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