Canaccord Genuity Group Inc (TSE: CF) (OTCMKTS: CCORF) (FRA: C6U) analyst Cam Currie is the latest to predict that gold’s bull run won’t be coming to a halt for a long time.
In an interview with the Northern Miner this week, he highlighted that an unprecedented amount of global debt has made precious metals an increasingly appealing safe haven asset to have in your portfolio. Global financial turmoil will continue to drive up the price of the yellow metal, Currie believes.
“We’re on a new trajectory with gold,” he said in the interview. “Gold is looking more and more attractive.”
He thinks that mid-tier gold producers and developing companies in the sector are a particularly undervalued investment prospect at the moment. The all-time high and continually rising spot price of the commodity will be highly beneficial for their balance sheet, he says.
Turning to major stocks like Barrick Mining Corp (TSE: ABX) (NYSE: B) and Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM) may not be the best choice, the senior investment advisor pointed out. Investing in smaller but sizeable operators like Calibre Mining Corp (TSE: CXB) (OTCMKTS: CXBMF) (FRA: WCLA) or Agnico Eagle Mines Ltd (TSE: AEM) (NYSE: AEM) (FRA: AE9) may be a better decision.
“Alot of these companies are going to be debt free a year from now with this gold price,” Currie told podcast host Adrian Pocobelli.
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Other metals are looking shiny to him
Currie also has a bullish outlook for silver and copper. He briefly touched on these precious and base metal subjects in the interview with optimism.
Many other analysts believe that these less valuable commodities will appreciate in the coming months and years too.
Last year, First Majestic Silver Corp (TSE: AG) (NYSE: AG) CEO Keith Neumeyer predicted that silver could hit US$100 per ounce in the years to come, but did not give a timeframe. His bullish outlook is shared by Rich Dad Poor Dad author and businessman Robert Kiyosaki; silver stock investor Peter Krauth and a handful of other speculators.
For copper, major banks like Goldman Sachs Group Inc (NYSE: GS) and Citigroup Inc (NYSE: C) are optimistic about the conductive metal. Goldman Sachs expects a 14 per cent price increase by the end of 2026 while Citigroup thinks it could potentially jump up by 42 per cent or more to US$15,000 per tonne by that time.
“I love copper long-term,” Currie highlighted.
Read more: Calibre Mining understands the balance between economic performance and sustainability
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