| To call Citigroup bearish on gold miners like Gold Fields (GFI) and Harmony Gold (HMY) would be like saying a New York Yankees fan dislikes the Mets: It goes beyond simple dislike. But if you’re going to insist on buying gold stocks, they recommend Goldcorp (GG), Barrick Gold (ABX) and Newmont Mining (NEM).
The past year’s developments have exposed the industry’s intrinsically bad fundamentals. Companies cannot change these, but can merely attempt to position themselves better than peers. We believe a shift from “short termness” to longer term value is needed. We have yet to see this happen...............................................Full Article: Source
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