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Fly News Breaks for December 10, 2018
AU
Dec 10, 2018 | 08:43 EDT
BMO Capital analyst Andrew Kaip initiated AngloGold with a Market Perform rating and a price target of $11. The analyst states that while the company's outlook has improved, its stock price has also risen about 40% relative to peers over the past 4 months and has now reached a valuation multiple that is comparable to its group. Kaip adds that he will look for further indications of mind life improvement from the new CEO Kelvin Dushnisky along with solid execution at the Obuasi mine after the executive's decision to approve the redevelopment, which has likely stabilized the company's annual production in the 3.3M oz range into the middle of next decade.
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