"Gold prices have remained at multi-year highs since the beginning of 2024, and the market remains bullish on the 2025 outlook amid heightened geopolitical tensions and aggressive central banks purchase," state Chew and Liu.
PhillipCapital's Paul Chew and Liu Miaomiao have initiated coverage on CNMC Goldmine Holdings, with a "buy" call along with a target price of 49 cents.
In their April 1 note, the analysts believe that the Malaysia-based gold miner is likely to see earnings grow by 46% y-o-y to US$17.9 million for its current FY2025 ending Dec 31, thanks to both higher production volume and gold prices.
