In the gold mining space, Newmont Mining (NYSE:NEM), along with major competitor Barrick Gold (NYSE:ABX) (TSE:ABX), are considered the top gold companies for value investing, with expectations they'll outperform rivals Goldcorp (NYSE:GG) and Kinross Gold (NYSE:KGC), according to Deutsche Bank (NYSE:DB) analyst Jorge Beristain.
Deutsche Bank retained its "Buy" rating on Newmont, which Barrick Gold was upgraded to, while Goldcorp and Kinross have "Hold" ratings on them now.
Newmont fell last week as speculators and traders had to sell off some of their gold to cover losses elsewhere, but they will rebound with the price of gold, and volume of trading shows that investors have re-entered the market, while the speculators and traders - at least for now - seem to have stayed on the sidelines.
No comments:
Post a Comment