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Gold Miners Analyst Watch: October Edition

Oct 3 2013, 10:18
Itinerant

includes: ABX, AEM, AGI, ANV, AU, AUQ, AUY, EGO, GFI, GG, GOLD, HMY, IAG, KGC, MUX, NEM, NGD, NSU, PPP, SBGL

Disclosure: I am long AEM. (More...)

October is upon us and it is time again for an update on price targets for gold miners provided by analysts and available from Yahoo.com. As in previous installments we will be noting price targets and target changes in comparison with results published in our last edition in this series. We would like to stress that many companies mentioned in this article may have more analysts following their progress than considered in our database. This difference is explained by the fact that not all analysts release their predictions to Yahoo.com. Instead, in many cases analyst data is considered as proprietary information only available to subscribers of the analysts' services.

We continue to consider the following stocks (in alphabetical order): Agnico Eagle (AEM), Alamos Gold (AGI), Allied Nevada (ANV), AngloGold Ashanti (AU), AuRico Gold (AUQ), Barrick Gold (ABX), Eldorado Gold (EGO), Gold Fields (GFI), Goldcorp (GG), Harmony Gold (HMY), IAMGOLD (IAG), Kinross Gold (KGC), McEwen Mining (MUX), Nevsun Resources (NSU), New Gold (NGD), Newmont Mining (NEM), Primero Mining (PPP), Randgold (GOLD), Sibanye Gold (SBGL), Yamana Gold (AUY). We continue to retain Nevsun Resources in our analysis despite a recent change in focus to copper in their mining operations in Eritrea.

The table below summarizes our data. The first three columns list the company names, ticker symbols and share prices at the time of writing. Price targets (low, median and high) are listed in the following three columns. These targets are followed by a column giving the number of analysts providing data to Yahoo.com and the mean recommendations given by these analysts ranging from 1.0 (strong buy) to 5.0 (sell). This concludes the data sourced directly from Yahoo.com.

The following columns are colored in light green and contain data derived from our source data. These data points are given in percentages related to the share price at the time of writing. The column titled "median-price" gives the difference between the share price and the median target price. The column titled "high-low" gives the difference between the high and the low target. The last four columns titled "target change" document the changes in price targets since the September report with the last columns giving the average change over the low, median and high price targets.

(click to enlarge)

http://seekingalpha.com/article/1727372-gold-miners-analyst-watch-october-edition