🟡 Barrick Mining Rated Overweight, Agnico Eagle Gets Neutral — JPMorgan Starts Coverage
JPMorgan has kicked off coverage of the North American gold mining sector with Barrick Mining (B) rated Overweight and Agnico Eagle Mines (AEM) rated Neutral. The move highlights a bullish outlook on gold prices but divergent investment cases for the two major miners.
Key Facts:
• 📊 Barrick Mining: Overweight with a $68 price target, implying notable upside potential from current levels.
• 🛡️ Agnico Eagle: Neutral with a $248 price target, reflecting full valuation and slower near‑term growth.
• 📈 JPMorgan notes gold’s strong rally driven by central bank and ETF buying, along with constrained mine supply and uncertain US policy.
Market Insight:
While both miners sit among the world’s largest, Barrick’s discounted valuation and reserve base offer a nearer‑term growth story, whereas Agnico’s premium valuation suggests a more gradual upside tied to operational performance and sector fundamentals.
#Gold #GoldMining #BarrickMining #AgnicoEagle #JPMorgan $PAXG $XAU
