As we touched on earlier and Rocky/James covered at length in yesterday’s Resources Webinar, MM likes the Gold Sector into 2023 especially when we combine the softening rhetoric from the Fed and their significant valuation appeal i.e. they are cheap! We are looking to buy Evolution Mining (EVN) for our Flagship Growth Portfolio liking the stock from both a positioning and corporate perspective into next year. The stocks -72% correction since the Fed started hiking interest rates illustrates how important Jerome Powell et al are for the stock and sector importantly such large positioning, like an oil tanker, doesn’t change course in just a few days.
- We like EVN at current levels, even after its strong bounce, initially targeting the $3.25-3.50 area – we are a touch late to this party but still want to go!
MM is bullish EVN into 2023
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