The three ASX gold miners Goldman Sachs sees at the top of the class
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Investment bank Goldman Sachs sees gold prices hitting US$2133/oz in 2024
That price run, easing inflationary pressures and improved hedge books could see margins in the ASX gold sector lift $300/oz by 2025
GS’ Aussie analysts rate Evolution, Regis Resources and Gold Road Resources as buys
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GS has a $3.80 price target on EVN, around 15% upside on the $6b miner’s $3.39 price yesterday. They see 20% upside with a $1.85 PT for Gold Road, which owns half of the Gruyere joint venture near Laverton in WA alongside South African major Gold Fields.
The company also holds a 19.73% stake in De Grey worth around $450m on GS estimates or 40c per share. GS sees Gold Road’s strong recent dividend paying history continuing, with a 3cps payout equivalent to 30% of anticipated free cash flow expected in 2023-24.
“On our forecasts, we see GOR continuing its dividend whilst funding the JV’s organic growth pipeline from Gruyere’s cash flow, driving a c.30% increase in EBITDA over the next 4 years,” GS thinks."
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stockhead.com.au/resources/...s-sees-at-the-top-of-the-class/
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