The fewest “buy” ratings

Among senior and intermediate miners (JNUG) (GDX), New Gold (NGD), Barrick Gold (GOLD), Eldorado Gold (EGO), and Kinross Gold (KGC) have the fewest “buy” ratings from analysts, at 0.0%, 16.0%, 38.5%, and 40.0%, respectively.

Why Analysts Are Bearish on These Gold Equities

Ready to put your morning scrolling to use? Sign up for Bagels & Stox, our witty take on the top market and investment news straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Negative analyst sentiment

New Gold’s stock was the weakest gold stock last year, plunging 77% and reduced to a penny stock due to delays at its Rainy River mine. This year, the stock has returned 1%. The situation at Rainy River has been turning around slowly this year, but persistent concerns are preventing analysts from betting on the stock. Many analysts seem to be waiting on New Gold’s first-quarter results.

Barrick’s merger and analysts

Only ~16% of the analysts covering Barrick Gold (GOLD) recommend “buy.” Analysts turned negative on the stock following issues in Tanzania and Argentina. Whereas its merger with Randgold Resources has been received positively, many analysts seem to be waiting to assess the post-merger situation. Deutsche Bank upgraded Barrick Gold (GOLD) from “hold” to a “buy” on its strong precious metal price forecasts and cost-cutting, synergy, and divesting opportunities.

Eldorado and Kinross

Analysts’ views on Eldorado Gold (EGOhave deteriorated rapidly in the past year, though they have started turning around. EGO’s revised heap-leaching plan resulted in operations resuming at its Kisladag mine in Turkey. The revised heap-leaching plan also meant the suspension of its previously announced mill project. The suspension reduced the company’s risk profile and was seen as positive by analysts and investors. Geopolitical tensions are keeping analysts wary on Kinross Gold (KGC), which has earned “buy” ratings from only 40% of analysts covering it.

Latest articles

WeWork is gearing up for an IPO. On Wednesday, the company made its IPO filing with the SEC public and expects to garner $3.5 billion from its IPO.

After FCC Chairman Ajit Pai recommended the approval of the T-Mobile–Sprint merger, Representative David Cicilline urged the FCC to allow public comment.

Cresco Labs (CRLBF) is set to report its Q2 earnings on August 21 after the market closes. The company's stock fell 5.3% yesterday.

Cannabis stocks mostly traded in positive territory today. Supreme Cannabis (FIRE) and Aurora Cannabis (ACB) rose about 9.5% and 5.5%, respectively.

NVIDIA (NVDA) stock soared 6% in today’s trading session as its Q2 earnings for fiscal 2020 beat estimates. However, its guidance missed estimates.

Nio Inc. (NIO) has disrupted the automotive space since 2014 but only made waves in the market since its IPO. Investors have suffered numerous setbacks.