Gold has figured prominently in MM’s portfolio over recent months and we see no reason to change this through 2023 although the sector is under pressure at this point in time courtesy of rising interest rates. We like NST for sector exposure and are considering it as an alternative to Newcrest (NCM) depending on how the Newmont (NEM US) takeover unfolds.
- We like NST into weakness under $13.50 but we already have large exposure to the sector.
MM is considering NST as an alternative to our position in Newcrest (NCM) which is under a takeover bid
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