BUZZ-Scotiabank raises PTs on gold miners amid macroeconomic uncertainty

Reuters
Jan 26
BUZZ-Scotiabank raises PTs on gold miners amid macroeconomic uncertainty

** Scotiabank raises price target on gold miners and increases gold price forecast to $4,600/oz from $3,800/oz for 2026

** The premiums on PTs reflect uncertainty over economic expectations, geopolitical turmoil and strong central bank buying

** Brokerage raises PTs on the following companies:

COMPANY

OLD PT

NEW PT

UPSIDE TO STOCK'S LAST CLOSE

Newmont Corporation NEM.N

$114

$152

22.2%

Barrick Mining ABX.TO, B.N

$43

$63

23.3%

Kinross Gold K.TO, KGC.N

$32

$45

21%

Gold Fields GFIJ.J, GFI.N

$47

$61

14.6%

Agnico Eagle Mines AEM.TO, AEM.N

$219

$276

28.6%

(Reporting by Dharna Bafna in Bengaluru)

((Dharna.bafna@thomsonreuters.com))

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