Latest news with #EvolutionMining
Business Insider
a day ago
- Business
- Business Insider
Citi Sticks to Their Hold Rating for Evolution Mining (CAHPF)
Citi analyst Kate McCutcheon maintained a Hold rating on Evolution Mining (CAHPF – Research Report) yesterday and set a price target of A$8.00. The company's shares closed yesterday at $5.26. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter McCutcheon covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Evolution Mining , and Mineral Resources Limited. According to TipRanks, McCutcheon has an average return of 7.6% and a 61.22% success rate on recommended stocks. Currently, the analyst consensus on Evolution Mining is a Moderate Sell with an average price target of $4.68.
Forbes
6 days ago
- Business
- Forbes
Last Drinks At The Gold Bar Before A 20% Price Fall
Gold bugs be warned. Your party is ending with only enough time left for a last round of drinks before the fun ends as the gold price heads for a 20% fall. That's the latest forecast from Citi, an investment bank, with another bank, UBS, adding its note of caution about the outlook for gold which has been one of the best investments for the past three years but is struggling to continue rising. Gold price forecast to fall. getty Improving economic growth and the start of an interest rate cutting cycle are expected to weigh on gold which has risen by 108% since late 2022, and 45% over the past 12-months to trade around $3394 an ounce. But since reaching $3433/oz in April gold has struggled to make meaningful headway, briefly returning to that all-time high late last week when Israel launched its aerial bombardment of Iran but failing to maintain upward momentum this week. UBS, in a note circulated to Australian investors, said it remained bullish on gold but believed guidance from the miners ahead of their profit reports for the year to June 30 was 'not without risk'. Evolution Mining, Australia's second biggest goldminer, has been downgraded to sell by UBS after an 81% price rise since the start of 2025. 'We no longer have valuation support and downgrade Evolution to sell with a share price target of A$6.70,' UBS said, a price forecast which is 21.7% down on last sales at A$8.56. Northern Star, Australia's biggest gold producer, was downgraded by UBS to neutral though its share price could still rise to A$23, up 9% on last sales at A$21.08. Newmont, the big U.S.-based goldminer with a listing in Australia, is the only one of the big three to earn a buy recommendation from UBS thanks to its competitive free cash flow with securities in Australia tipped to rise by 17.4% to A$105. Citi's view is that investment demand for gold will start to fade later this year and into 2026. 'In the near term, trade deals (with Britain. China, Japa, India and Europe), and the passing of the (net stimulatory) Big Beautiful Bill should improve sentiment and stop gold moving much higher,' Citi said. "Indeed, we do not see bond vigilante momentum during 2025/26 as the BBB delta is largely funded by tariff revenues. 'Further, over the next six-to-nine months we see scope for the Federal Reserve to cut rates from a restrictive policy to neutral, bolstering growth sentiment in the U.S. and globally.' Citi said it was recommending that goldminers use the extraordinary strength in the long-dated price, which is at $4000/oz using five-year forward trades, to insure against downside below $3600/oz-to-$3700/oz. Gold, according to Citi, is likely to consolidate around $3100/oz-to-$3500/oz over the next three months. 'But our work suggests that we have already seen the highs (for gold),' Citi said. The bank said its research showed that a gold deficit should peak in the third quarter of this year and the market should fundamentally weaken after that, driven by lower investment demand. 'Our work suggests that gold returns to between $2500/oz and $2700/oz by the second half of 2026,' Citi said.
West Australian
11-06-2025
- Business
- West Australian
Evolution Mining significantly expands Mungari gold mineral resource
Evolution Mining has expanded both the mineral resource estimate and ore reserve at the Mungari gold operation west of Kalgoorlie-Boulder. Australia's second-largest ASX-listed gold miner this week said Mungari's MRE had increased by 1.3 million ounces to 7.2Moz during 2024, while the ore reserve was up 510,000oz to 2.1Moz. Evolution said the rise in MRE was mainly because of optimisation of the gold price and cost assumptions, with increases predominantly in the open pits. The company said new drilling data across many deposits in both open pits and underground — predominantly on the Genesis and Solomon lodes — from exploration, resource development, and grade control activities had also contributed to the increase. It said mining activities depleted 160,000oz of gold during 2024. The company said the ore reserve increase came about as cost assumptions and mining modifying factors were updated in line with the latest life-of-mine plan, which confirmed the economic viability of each mining area based on the ore reserve commodity price assumption. Overall, across its operations in WA, Queensland, New South Wales, and Canada, Evolution's total mineral resource estimate stands at 30Moz of gold and 4.4Mt of copper. Group ore reserves are estimated to contain 11Moz of gold and 1.4Mt of copper, representing an average mine life of 15 years. Evolution managing director and chief executive Lawrie Conway said the company was well positioned to continue growing its business, increasing mine life and delivering value to all stakeholders.
Business Insider
10-06-2025
- Business
- Business Insider
Citi Sticks to Its Hold Rating for Evolution Mining (CAHPF)
In a report released today, Kate McCutcheon from Citi maintained a Hold rating on Evolution Mining (CAHPF – Research Report), with a price target of A$8.50. The company's shares closed today at $6.10. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, McCutcheon is a 4-star analyst with an average return of 8.0% and a 61.54% success rate. McCutcheon covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Evolution Mining , and Mineral Resources Limited. Evolution Mining has an analyst consensus of Hold, with a price target consensus of $4.72.
AU Financial Review
30-05-2025
- Business
- AU Financial Review
Long gold price rally poised to reshape the ASX's big indices
Evolution Mining is expected to headline a flurry of changes to the ASX's biggest indices as gold producer stocks soar amid investor interest in the precious metal as a haven from broader market turmoil. Evolution, which has mines around the country, is set to join the S&P/ASX 50 index in the ASX's quarterly rebalance, to be announced next Friday and take effect a fortnight later. The company's share price has soared 84 per cent this year, and it will replace PLS, the lithium producer known until recently as Pilbara Minerals, according to Morgan Stanley analysts.
