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Analysts’ Favorites: A Look at the Top 10 Gold Miners

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Analysts’ Favorites: A Look at the Top 10 Gold Miners PART 1 OF 11

Analysts’ Favorites: A Look at the Top 10 Gold Miners

Analyst ratings for gold miners

In this series, we’ll rank the global gold miners based on their “buy” ratings from Wall Street analysts. These consensus ratings were compiled by Thomson Reuters. We’ll also discuss the individual performances of these miners.

Among the major precious metal miners, Wheaton Precious Metals (WPM), Agnico Eagle Mines (AEM), and Newmont Mining (NEM) garnered the most “buy” ratings at 90%, 63%, and 58%, respectively.

Analysts’ Favorites: A Look at the Top 10 Gold Miners

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Of the top ten miners with the most “buy” percentage ratings, Tahoe Resources (TAHO), Goldcorp (GG), and Kinross Gold (KGC) ranked at the bottom of the list. The companies that fell in the middle are Coeur Mining (CDE), Royal Gold (RGLD), IamGold (IAG), and Eldorado Gold (EGO).

Miners’ implied gains

Among the top three precious metal miners, Wheaton Precious Metals has the highest upside potential of 40.0% based on its average target price. The upsides implied for the other two miners are lower at 24.0% and 8.6% for Agnico Eagle Mines and Newmont Mining, respectively.

Factors that are driving implied gains

Wheaton Precious Metals’ business model of streaming provides protection to investors during a downturn. Its returns have been consistent compared to its mining peers (GDX) (GDXJ). Wheaton Precious Metals also increased its dividends 43% in its latest results. 

Agnico Eagle Mines is one of the most consistent gold miners in the business. Its management has been consistent in terms of execution and exceeding market expectations. 

Newmont Mining has made commendable progress in reducing its debt. It has also reduced its unit costs significantly. Along with its strong project pipeline, its unit costs have been enough for investors and analysts to start turning bullish on the stock again.

In the rest of this series, we’ll look at analyst ratings for each of the above companies, beginning with Wheaton Precious Metals.

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