The firm argued that there are 'tactical opportunities' to jump back into gold equities.
Shares of gold mining company Newmont are at an "attractive entry point" and could jump more than 20% from here, according to Goldman Sachs. Analyst Emily Chieng initiated coverage of Newmont with a buy rating, saying the stock looks undervalued after falling 30% this year and that the company has new development projects in the pipeline that can boost growth.
Still, the analyst argued that there are "tactical opportunities" to jump back into gold stocks as capital returns, production growth and margin expansion can differentiate some companies, and help them exceed both commodity and the market. The analyst further noted that Newmont offers the highest dividend yield among the firms in its precious commodities coverage, about 5% compared to 3% on average.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stocks jump as growth shares lead; 2-year U.S. yields hit 14-year highs By Reuters*STOCKS RALLY TO END POSITIVE WEEK AS MARKETS EMBRACE HAWKISH FED RATE HIKE PATH -
Baca lebih lajut »
Goldman reveals the 'sweet spot' for its favorite oil stocks — and gives one 35% upsideGoldman singled out large-cap oil stocks it says have attractive total returns from here.
Baca lebih lajut »
Upside risks to US Tresaury yields but moving beyond peak inversion – Goldman SachsIn its latest note published on Monday, economists at Goldman Sachs said that 'market pricing is roughly aligned with our Fed baseline through year-en
Baca lebih lajut »
XRP Can Now Be Burned via Bitcoin Payment App on XRPL, Here Is HowThis is how XRP can now be burned via XRPL-built Bitcoin payment app btc xrparmy xrpsec bitcoinlightning xrpl xrpcommunity $btc $xrp
Baca lebih lajut »
Goldman Sachs yanks ‘free coffee’ perk as bankers return to five-day week“I’m sure the partners still don’t have to pay for their coffee — or anything in their fancy dining hall,” one junior Goldman banker lamented.
Baca lebih lajut »