CIBC Sees a Favorable Backdrop for Gold Developers Amid High Gold Prices
The backdrop for gold developers including Fuerte Metals (FMT.V), Meridian Mining (MNO.TO) and Thesis Gold & Silver (TAU.V) is increasingly favorable amid high gold prices, CIBC Capital Markets said.Elevated gold prices have improved project economics, while strong equity financing appetite and record royalty deal flow continue to support project advancement and provide additional balance sheet flexibility, CIBC said.CIBC views recent consolidation in the gold sector as constructive for M&A, as it may help narrow the gap between buyer and seller expectations.CIBC's gold coverage reflects a broader review of the sector universe, focusing on names that offer the most compelling combination of robust economics, credible paths to construction, capable management teams and meaningful re-rating potential.CIBC also raised Skeena Resources (SKE.TO)'s price target to C$60.00 from $58.00.Price: $9.51, Change: $+0.26, Percent Change: +2.81%
