Board-Ansicht
Mix-Ansicht- Noch vor dem Frühstücks-Ei, erhellende Morgen-Gold-News - Emerald, 23.11.2003, 06:38
Noch vor dem Frühstücks-Ei, erhellende Morgen-Gold-News
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Bugos--likes GFI
Anyone else like GFI (a lot) here?
Zacks.com Expert Watch Highlights the Following Stocks: Agnico Eagle, Barrick, Gold Fields, Newmont Mining, Anglogold, and Harmony Gold
November 18, 2003 07:02:00 AM ET
Inflation is showing signs of resurgence. Find out why that means you should be investing in gold and which shares to own now. Read the full Experts Watch article with commentary and recommendations on Agnico Eagle AEM, Barrick ABX, Gold Fields Ltd. GFI, Newmont Mining NEM, Anglogold AU and Harmony Gold HMY, go to; http://expertwatch.zacks.com
Here are the highlights from the Experts Watch column:
Ed Bugos, editor of the Goldenbar Report, takes issue with the supposition that the Consumer Price Index and Producer's Price Index are the best measurements for inflation in the economy. In fact, he feels that it is a shell game being played by the fiscal and monetary authorities in this country to allow them to inflate the money supply in order to make earnings and the economy appear better than they really are.
Bugos very fervently believes that gold will bust through $400, which it has been challenging recently, and thinks it could go to the mid to high $400's before year-end. Bugos compares the moves in gold to other currencies, indices, and metals. His research points to an improvement in gold's premium, whether due to the drop in the value of the dollar, higher perceived geopolitical instability, or just that the metal is undervalued. He believes that the market will re-monetize gold as global inflation sets in. However, not all gold stocks are created equally.
Bugos sold Agnico Eagle AEM from his portfolio on October 30th, at $12. He believes the company's cash flow will be hampered due to its low production levels. The company has strong gold and cash reserves, but the market values its in-ground reserves at around the levels of hedged players like Barrick ABX around $132/oz vs. $275/oz for the unhedged players.
Bugos' two favorite gold stocks right now are Gold Fields Ltd. GFI and Newmont Mining NEM. Bugos' recent Gold Fields' purchase was a value play when South Africa's largest investment house sold a significant share taking the stock from 36% of its invested assets to just 21%. The fund manager invested the funds, 77 million Rand, into Anglogold AU and a deal that company is expected to complete with Gold Fields.
Bugos believes that Newmont, which recently announced a $1 billion financing offer, is attempting to build a war chest to dislodge Anglogold from its recently acquired #1 gold producing spot. There is further speculation that the company could be in the process of buying foreign gold shares at relatively cheap prices with what Bugos believes is"inflated paper."
Bugos feels that both Gold Fields and Harmony Gold HMY could be attractive takeover targets.
Read the full report with insight from the experts at Zacks.com: http://expertwatch1.zacks.com
Mein Comment:
There is still an unbelievable concentration going on in the mining industry.
Emerald.
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