BGL has advanced over 15% so far in 2024, although recent bond jitters have dampened the performance of the $2.2bn WA-based gold miner. On Thursday, a 4.8mn block of BGL exchanged hands at $1.93, arguably a good sign that the market still has the appetite for the miner around $2, assuming we don’t hear that directors were the sellers, investors wouldn’t want another Boss Energy (BOE)!
- We like the risk/reward towards BGL around $1.70, i.e. not too far away now.
MM is bullish towards BGL through 2024/5
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