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Fly News Breaks for November 30, 2017
HMY, GFI, AU
Nov 30, 2017 | 11:11 EDT
Deutsche Bank analyst Patrick Mann upgraded three South African gold producers after adjusting his rand forecasts by an average of 13% over 2018-2023. For 2018, the analyst uses a rand 14.22 to one U.S. dollar ratio, which boosts his rand-based price targets for the shares by an average 27%. Mann upgraded both AngloGold (AU) and Gold Fields (GFI) to Buy from Hold. He sees the companies returning to positive free cash flow in 2018. The analyst also upgraded Harmony Gold (HMY) to Hold from Sell.
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