Gold Mining Stocks Rise Ahead of Market Open as Scotiabank Upgrades Ratings
Deep News
Oct 23
Gold mining stocks have spiked in pre-market trading alongside rising gold prices, with Scotiabank analyst Tanya Jakusconek elevating the ratings for these mining stocks.
As gold prices soar, the ratings for Newmont (target price of $114), Barrick Mining Corp. (target price of $43), and AngloGold Ashanti PLC (target price of $90) have been upgraded from "in line with industry performance" to "outperforming the industry".
“We note that we expect these companies to achieve better operational performance, and their valuations remain attractive.”
In pre-market trading, Newmont is up 2.0%, Barrick is up 2.0%, and AngloGold has increased by 0.81%. Spot gold temporarily rose by 1% on Thursday.
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