Passing on these target prices on commodity producers from Deutsche Bank yesterday, January11. They generally correspond to my view of the world:
Coeur d’Alene Mines (CDE) with a target of $54 (from $22.)
Barrick Gold (ABX) with a target of $76 (from $58.)
Freeport-McMoRan Copper & Gold (FCX) with a target of $130 (from $95.)
Goldcorp (GG) with a target of $60 (from $46.)
Kinross Gold (KGC) with a target of $23 (from $20.)
Newmont Mining (NEM) with a target of $93 (from $77.)
Southern Copper (SCCO) with a target of $64 (from $46.)
Thompson Creek (TC) with a target of $18 (from $16.)
Vale (VALE) with a target of $48 (from $42.)
My take is this:
Since these are quotes from Germany, I believe they are listed in Euro Dollars, not American dollars. Today’s price of FCX is $121+ and the last time it may have been $95 was back in October of 2010. Currently VALE is at $36+. It reached $42 back in 2008.
Reminds me of the episode of the Flintstones where Fred is impersonating wealthy power broker JR Gotrocks and all he has to do is talk on the phone saying “Who’s baby is that?… What’s your angle? … I’ll buy that.”
GG wa “supposed” to be at 55 by end of 2010.
Now,it”s 43 No oone knows where the markets are headed, but everyone knows where they WANT the market to be. I am being extremely cautious in all sectors, since I expecting another major set back or even a flash crash> Folks are gonna buy on the first dip and get sucked in on the fall. Remember, its all automated now, and those trailing stops and stop losses kick in and its a waterfall to hell.
I second that – what’s the time frame associated with these targets? Need that for the proper context.
What’s the time frame for these estimates? I notice that TC “only” has an upside prediction of about 15% compared most of the rest which are much higher.
I hope people stop posting such worthless comments. I will make it to this site more often.
I hope he is right. I will make a lot of money.