Firstly, it’s important to point out that we liked both GMD and RMS, but the latter nudged the verdict as the stock looks poised to break out to fresh 2023 highs even while the gold price corrects, i.e. a stock that rallies in the face of bad news is bullish. MM is positive on gold into 2024, and this SA-based $1.6bn gold producer ticks the boxes for us with a forecast 2.4% yield, helping offset holding costs.
- We are bullish on RMS, initially targeting a test of $2, a healthy 30% higher.
MM likes RMS below $1.50
Add To Hit List
