UBS has upgraded their recommendation on Newcrest Mining (ASX: NCM) to Neutral from Sell on the back of increased long term gold forecasts

UBS has upgraded their recommendation on Newcrest Mining (ASX: NCM) to Neutral from Sell on the back of increased long term gold forecasts. UBS believes sentiment is starting to change to the metal but warns investors against complacency in the short term. The UBS price target has been moved from $6.90 to $11.20. This upgrade follows in the wake of JP Morgan's upgrade of the stock last week. JPM say the company has positive leverage to the gold price, improving production into FY15, and no imminent debt maturities, suggesting NCM is now a positive risk/reward investment opportunity.


1 topic

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.