Now is a good time to buy gold stocks, according to Morgan Stanley. Tensions in the Middle East, brought on by the Israel-Hamas war, had triggered a gold "safe-haven" rally as investments in the precious metal picked up. The rally has since fizzled and gold spot prices were trading at $1,950.12 on Nov. 8, up around 0.02% the year to date.
Catalysts for the company's growth in the next 12 months include: potential approval of Tanda-Iguela, its Ivory Coast exploration property; an update on its shareholder returns program; and the first production from its expanded Sabodala-Massawa mine in Senegal, Morgan Stanley said. The analysts reckon that the successful execution of its growth projects, along with approval of Tanda-Iguela, may trigger a re-rating, as the company will then have a more diversified portfolio.
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Source: CNBC - 🏆 12. / 72 Read more »