Here are UBS's top gold picks as stocks appear inexpensive amid wider rally
Gold miners have failed to match a blistering rally in gold recently, lagging behind due to respective challenges and rising costs.
Gold stocks appear inexpensive and have abnormally lagged the gold price, UBS said in an analysis last Wednesday, adding that they are trading on a P/E relative that is 40% below its norm.
The stocks have also decoupled from gold prices and should have been up 45% if they had followed their normal relationship with gold prices, the brokerage explained.
UBS Head of U.S. Equity Derivatives Research Maxwell Grinacoff believes investor positioning in gold mining stocks is not fully reflecting the price action in the safe haven metal recently, and could be due for a catchup.
UBS says its preferred gold miners globally are Anglogold Ashanti ANGJ.J, Barrick Gold ABX.TO, Centamin CEY.L, Endeavour Mining EDV.L, and Evolution Mining EVN.ASX.
https://seekingalpha.com/news/40939...pensive-ubs-says-barrick-gold-among-buy-picks
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Here are UBS's top gold picks as stocks appear inexpensive amid...
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