Heavyweight gold stock NCM has endured an awful 2022 falling over 45% from its April high under the combined weight of rising bond yields & an extremely strong $US. However, as bond yields threaten to soften following the BOE’s intervention we can see gold and its related stocks regain some of its lost lustre.
- We like the risk/reward to NCM around $16.50 looking for ~20% upside into 2023.
MM is bullish NCM into Christmas initially targeting the $20 area
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