Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Dear James, NST is up YTD circa 15%, having a good run since mid October. EVN is down YTD circa 30%. Following your purchase of EVN, I am tempted to switch to EVN. Do you envisage more performance upside catch-up for EVN in the next 12 months, especially with a weakening US$, compared to NST? Or would you be a holder (even buyer) of both NST & EVN at present levels? What would your PT be for both please? Thanks Bernie
Hi Bernie,
A few questions rolled into one with the key probably the $US which has already corrected ~10% from its late September high i.e. a bounce or period of consolidation by the greenback is likely to weigh on gold and its respective producers.
Hence the answer is likely to be determined by the $US but we bought EVN as we are looking for it to outperform as gold rallies next year – albeit some choppiness likely in the near term.
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