Q1 Reporting Preview & Commodity Price Update – Gold Miners Poised to Shine: Now & Going Forward
Gold continues to shine, and we expect gold producers to continue to outperform as Q1 operating and financial results are announced in the coming weeks. As we noted in the Building our “Precious Metals Hoarding List” published last month, we believe that we are in a bull market for gold and gold equities. In the upcoming reporting season, we believe producers that report strong Q1 results, along with reasonable outlooks (adjusted for COVID-19), are likely to outperform. Additionally, there are several companies with strong tailwinds for Q2/20 as they are poised to benefit from significantly lower local currencies and decade low energy prices. In this note we are updating our commodity and currency estimates and highlight names from our coverage universe that we believe could outperform when quarterly reporting begins April 22, 2020.