"Following the releases of 2012 and 2013 guidance from a number of producers,
clear that operating costs, sustaining capital, and capex are all increasing
further, and we estimate that sustaining capital costs have now reached well in
excess of $200/oz." The above commentary is from a recent research report by
CIBC analyst Barry Cooper, who updated his list of "Top Picks" in the gold
stocks sector in light of fourth quarter 2011 production results. The list –
which includes a mix of large- mid-, and small-cap gold companies – now
consists of Goldcorp (GG), Kirkland Lake Gold (KGI.TSX), Osisko Mining
(OSK.TSX), CGA Mining (CGA.TSX), SEMAFO (SMF.TSX), and Belo Sun Mining
(BSX.TSXV). In addition, Cooper highlighted Barrick Gold (ABX), Franco-Nevada
(FNV), and Royal Gold (RGLD) as "attractive risk reward plays." Lastly,
Cooper made the following adjustments to his ratings: Centerra Gold (CG.TSX) –
lowered price target to C$32.00 from C$33.00 but reiterated Sector Outperform
rating IAMGOLD (IAG) – lowered price target to $27.00 from $31.00 but
reiterated Sector Outperform rating Yamana Gold (AUY) – raised price target to
$24.00 from $22.00 but maintained Sector Perform rating
No comments:
Post a Comment