Pan American Silver has an analyst consensus of Strong Buy, with a price target consensus of $28.36, implying a 15.14% upside from current levels. In a report released on February 11, National Bank also maintained a Buy rating on the stock with a C$47.25 price target.
Source – Markets Insider
Australia’s Gold Road Resources rejected a $2.1 billion takeover proposal from Gold Fields, calling the offer opportunistic following a drop in quarterly production.
The all-cash proposal was made earlier this month against a backdrop of surging gold prices, which recently surpassed $3,000 a troy ounce for the first time as economic uncertainty fuels demand for the metal as a perceived safe haven.
“Gold Fields will continue to seek the engagement of the Gold Road board to consider the merits of the proposed acquisition and to advance the proposal,” said Mike Fraser, chief executive of Gold Fields.
Source – Wall Street Journal
Gold prices dipped on Monday as thin holiday trading kept momentum in check. After last week’s sharp decline, gold is attempting to recover but faces resistance between $2607.25 and $2607.35. A breakout above $2629.13 is possible, but traders will need stronger volumes to drive further gains—something unlikely until after the New Year.
Treasury yields edged slightly higher to start the week, with the 10-year yield rising to 4.536% and the 2-year yield ticking up to 4.325%. Yields jumped last week following the Fed’s policy update but eased on Friday after softer-than-expected inflation data. The dollar held steady as markets processed the Fed’s outlook for 2025.
While U.S. tariffs and other factors have added fire to already hot demand for gold as an investment, the impact is different for gold jewellery, according to Andrew Naylor
“In markets like Dubai, this creates a two-fold effect: on one hand, you see stronger interest in gold as a safe-haven asset, on the other, high prices dampen jewellery demand.”
“There are no potential customers nowadays because of the gold prices,” said Fahad Khan, a sales representative at retailer Damas Jewellery.
“Higher gold prices are likely to dampen demand for jewellery, in a classic example of how the best cure for high prices is high prices,” said Russ Mould, investment director at AJ Bell.
Source – Reuters
Gold prices are higher in midday trading Thursday despite another U.S. inflation report that came in warmer than expected. Silver prices are slightly down. April gold was up $16.20 at $2,944.00. March silver prices were last down $0.095 at $32.69.
Source – KITCO News
Franco-Nevada said Tuesday it agreed to acquire a royalty package consisting of a 7.5% gross margin royalty on the Côté gold mine in Ontario from a unnamed third party for $1.05B in cash.
The company said the royalty package applies to mineral production from the Chester 1, 2 and 3 claims, which cover all of the mineral reserves and over 99.9% of current mineral resources on the Côté mine.
Source – Seeking Alpha
Franco-Nevada Corporation is a Canada based, gold-focused royalty, and streaming company with the most diversified portfolio of cashflow producing assests
Shares of Barrick Gold Corp rose 2.76% to C$24.55 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index rising 1.15% to 25,569.84.
Source – Market Watch