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Golden Prospect Precious Metals – interims, a gold momentum Buy

By HotStockRockets | Friday 6 September 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Precious metals sector companies investment trust Golden Prospect Precious Metals (GPM) has announced results for the first half of 2024, noting a 15.64% Net Asset Value total return per share to 41.42p and outperformance of the gold price (+c.13% in USD and GBP) and of the gold miners’ Exchange Traded Funds (+10.1% and +10.8% in GBP) – and that “having endured three years where gold miners lagged the gold price, this may be the first tentative step in returning to their traditional role, of outperforming precious metals prices on the upside”. There is therefore very strong near term upside potential from a 38p offer price for these shares.
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