Newmont Upgraded and AngloGold Downgraded in Scotiabank's Gold Outlook

Monday, 19 August 2024, 18:52

Newmont upgraded and AngloGold downgraded as Scotiabank presents an upbeat gold outlook. The firm cites operational improvements and promising gold price forecasts while expressing concerns over AngloGold’s strong price growth.
Seeking Alpha
Newmont Upgraded and AngloGold Downgraded in Scotiabank's Gold Outlook

Newmont's Upgrade and Performance

Scotiabank has upgraded Newmont to Outperform based on significant operational enhancements that have positioned the company competitively within the evolving gold landscape.

Gold Price Forecast

With gold prices expected to climb, investors are keenly watching Newmont's strategic moves that promise potential returns in an optimistic market sector.

AngloGold's Downgrade

Conversely, Scotiabank has downgraded AngloGold to Underperform, citing strong price appreciation that might limit further upside in the stock's value.

Market Reactions

Market analysts are assessing the implications of these changes, suggesting that while Newmont may benefit from upcoming trends, AngloGold could face headwinds that might hinder its performance.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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