** Scotiabank raises price target on precious metal miners on positive gold and silver prices forecast
** Brokerage expects gold prices will continue to be driven by potential interest rate cuts and the weakening of the U.S. dollar $(USD)$
** Says gold prices will also "be supported by global above-average debt levels, geopolitical risk, and strong central bank buying"
** If investor caution rises, stock markets drop, geopolitical tensions escalate, or central banks buy more gold, these conditions could collectively drive up the price of gold - brokerage
Brokerage raises PT on following firms:
Company | New PT | Old PT | Upside/Downside to stock's last close |
Centerra Gold CGAU.N | $10 | $9 | 65% |
Dundee Precious Metals DPM.TO | C$18 | C$16.50 | 41% |
Equinox Gold Corp EQX.TO | C$8.75 | C$8.50 | 14% |
Fortuna Mining FSM.N | $6.75 | $6.50 | 39% |
K92 Mining KNT.TO | C$10 | C$9.50 | 12% |
Lundin Gold LUG.TO | C$31.50 | C$25.50 | 1% downside |
MAG Silver Corp MAG.A | $18 | $16.50 | 15% |
Pan American Silver Corp PAAS.N | $28 | $25 | 25% |
Torex Gold Resources TXG.TO | C$37 | C$33 | 25% |
Alamos Gold AGI.N | $25 | $22 | 34% |
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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