WAF fell -3.7% on Monday, although we could have easily picked a number of gold or ESG stocks with both groups under pressure at the start of the week. WAF has struggled for the last 2-years, and it’s an aggressive/optimistic call to pick a turn as the whole sector drifts after rallying strongly since early October. We believe the gold stocks are a “buy into dips”, but in the case of WAF, it’s hard to know how deep the next dip could be.
- We are bullish on gold stocks into 2024, but we prefer the likes of Evolution (EVN), Northern (NST) or Silver Lake Resources (SLR) at the more speculative end of town.
MM is cautiously bullish toward WAF into 2024
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