Freedom Broker has issued a sweeping downgrade across major North American gold producers, citing trimmed EBITDA forecasts, operational risks, and valuation constraints. This led to significant share price drops:
- Agnico Eagle (AEM): Downgraded to Hold, PT cut to $212 (from $255) on valuation premium and revised 2027 EBITDA.
- Barrick Mining (B): Downgraded to Hold, PT cut to $46 (from $54) due to near-term earnings estimate reductions.
- Newmont (NEM): Downgraded to Hold, PT cut to $116 (from $130) on cost inflation and performance risks.
RBC Capital Markets also noted gold producers face margin pressure in Q3 from lower gold prices and elevated costs, despite expected production improvements .
Agnico, Barrick, and Newmont fall following broad Freedom Broker downgrades
STREETINSIDER.COMOct 22, 2:56 PM UTC
Gold miners face margin pressure as lower prices complicate third-quarter results
STREETINSIDER.COMOct 22, 7:58 PM UTC
3