Gold miners Barrick Gold (ABX), Goldcorp (GG) and Newmont Mining (NEM) are in the spotlight Thursday as Jefferies raises its gold price forecast to $1,400 an ounce from $1,200 an ounce. Nintendo (NTDOY), Wynn Resorts (WYNN), Yum Brands (YUM) and Dick's Sporting Goods (DKS) also got some analyst attention.
Here's what they're saying:
Barrick Gold, Goldcorp, Newmont Mining
IBD's Mining-Gold/Silver/Metals group is sitting pretty at the No. 1 spot, above 196 other industry segments as investors rush into gold amid broader economic uncertainty. Jefferies joins other analysts that are raising their forecasts on bullion; some on Wall Street see gold prices headed toward $1,500 an ounce next year.
Gold mining stocks are seeing a correlated benefit, with the group's collective share prices more than doubling since the start of the calendar year.
Jefferies upgraded Barrick Gold to a buy from hold, and raised its price target on Goldcorp to 20 from 17. Newmont Mining also got a bump in price target to 42 from 33.
Barrick Gold and Newmont Mining opened lower on the stock market today as gold prices fell after the Bank of England decided not to raise rates, sending the pound higher vs. the dollar. But Barrick closed up 1.85% and Newmont 1.8%.
Yum Brands
Among other post-earnings analyst activity, the parent of Taco Bell, KFC and Pizza Hut received a price target hump from Nomura to 96 from 95.
After hours Wednesday, Yum Brands reported mixed quarterly results but raised full-year guidance.
Yum Brands jumped nearly 3% to 88.27, gapping back above an 85.89 buy point. Yum stock hit a 1-year high of 90.60 intraday.
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Nintendo
CLSA isn't getting caught up in the "Pokemon Go" frenzy, initiating video game maker Nintendo at a sell.
In the eight days since being released in the U.S., the mobile game has swept millions of users, sending them on a real-life hunt for animated monsters.
Nintendo shares rose 15.2% to 30.54. The stock has shot up 72% since July 6.
Wynn Resorts
JPMorgan downgraded the casino and hotel operator to neutral with a 94 price target.
Earlier in the month, Wells Fargo forecasts that Macau gambling revenue would fall 8%-10% in July, a steeper yearly decline than the consensus for about 6%.
Wynn fell 3% to 92.02, back below its 50-day moving average.
Dick's Sporting Goods
RBC Capital upgraded Dick's to outperform from sector perform and raised its price target to 56 from 41. The sporting goods retailer, which carries brands such as Nike (NKE) and Under Armour (UA), is widely expected to pick up some of Sports Authority's business in the wake of the latter's bankruptcy proceedings.
Dick's Sporting Goods rose 2.65% to 49.97.
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