Globe says Dundee's Stewart bullish on Goldcorp, others
Ticker Symbol: C:G C:OSK C:AGI C:ANV C:PRU C:SGR

Globe says Dundee's Stewart bullish on Goldcorp, others

Goldcorp Inc (2) (C:G)
Shares Issued 810,640,137
Last Close 10/3/2012 $44.72
Thursday October 04 2012 - In the News

Also Osisko Mining Corp (C:OSK) In the News
Also Alamos Gold Inc (C:AGI) In the News
Also Allied Nevada Gold Corp (C:ANV) In the News
Also Perseus Mining Ltd (C:PRU) In the News
Also San Gold Corp (C:SGR) In the News

The Globe and Mail reports in its Thursday, Sept. 4,(I wonder if they mean October 4th?) edition that Dundee Securities head Ron Stewart says investors should use any market weakness to take positions in gold stocks because there is a strong case for the price of gold bullion blowing through $2,000 (U.S) an ounce over the next 12 months. The Globe's Shirley Won writes in the Eye On Equities column that Mr. Stewart says, "It seems likely to us that August might well have been a turning point for gold equities." He believes the market sentiment toward gold companies has changed. Mr. Stewart concedes the price increase in gold securities may not be sustainable in the short term, but he expect many of the equities in the Dundee coverage universe will "take out their 52-week highs" over the next year. He says, "In the near term, as we approach the U.S. election on Nov. 6, we wouldn't be surprised if the market pauses or even gives back some of the recent gains." On Wednesday, Dundee Securities boosted the one-year targets on buy-rated names like Goldcorp (new target of $55 a share); Osisko Mining ($14), Alamos Gold ($25), Allied Nevada Gold ($45), Perseus Mining ($4.40) and San Gold ($2.20).

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