Michael Jalonen

Commodity prices have soared so far in 2022 as the combination of U.S. dollar inflation, stock market instability, supply chain disruptions and geopolitical conflict has driven demand for gold, silver, copper and other metals. Gold and other precious metals serve as both an inflation hedge and a...

Kinross Gold Corporation (NYSE: KGC) announced Wednesday plans to suspend operations at its Kupol mine in Russia. The company is also in the process of suspending all activities at its Udinsk development project in the country, according to BofA Securities. The Kinross Gold Analyst: Michael Jalonen...

Despite stringent protocols, there has been an increase in COVID-19 cases at Agnico Eagle Mines Ltd’s (NYSE: AEM) Nunavut operations and the company is taking steps to gradually reduce the workforce and activity levels, according to BofA Securities. The Agnico Eagle Mines Analyst: Michael...

Kinross Gold Corporation (NYSE: KGC) traded lower by 10% Thursday after the Canadian gold miner announced a $1.42-billion buyout of Great Bear Resources. Despite the negative initial market reaction, one Kinross analyst said the Great Bear acquisition will help diversify Kinross’...

BofA Securities took a look at two mining companies' stock, noting it will be difficult to sustain 10-Year Treasuries above 2.5% and with gold markets “refocusing from tighter monetary policy on limits to interest rate increases, the yellow metal should rally." The Gold Thesis:...

New Gold Inc (NYSE: NGD) shares gained more than 10% on Friday after the company reported a third-quarter earnings beat, but at least one analyst remains skeptical of the gold producer’s long-term upside. The Analyst: Bank of America analyst Michael Jalonen reiterated his Underperform rating...

Bank of America has lowered its price forecasts for gold, silver and copper and cut price targets for several of its top precious metal stock picks. The Analyst: Bank of America analyst Michael Jalonen lowered price targets for 18 precious metal stocks, including the following names: Agnico Eagle...

On Thursday, Bank of America updated its precious metal price outlook and named its top precious metal stock picks for investors to buy heading into the second half of 2021. BofA Lowers Commodities Estimates: Analyst Michael Jalonen cut his 2021 average gold price estimate by just 0.8%,...

Despite more than $6 trillion in U.S. government stimulus spending and rising fears about inflation, the SPDR Gold Trust (NYSE: GLD) and many gold mining stocks have significantly lagged the SPDR S&P 500 ETF Trust (NYSE: SPY) since the beginning of 2020. Replacement Scramble: On Wednesday, BofA...

The VanEck Vectors Gold Miners Etf (NYSE: GDX) has come back to life in recent months after a disappointing performance in the second half of 2020. On Thursday, Bank of America analyst Michael Jalonen said big gold stocks are currently transitioning to a period of significant production growth...

Inflation concerns haven’t delivered the gains gold investors had hoped for in the SPDR Gold Trust (NYSE: GLD) over the past year. However, Bank of America analyst Michael Jalonen said Tuesday the wave of M&A activity in the gold space has carried over into 2021, and he expects even...

Gold prices have been on a tear in 2020, but Iamgold Corp (NYSE: IAG) shares lost 5.75% Friday after the company received a Wall Street double downgrade in the middle of a bull market for gold.  The Iamgold Analyst: Bank of America analyst Michael Jalonen downgraded Iamgold from Buy to...

Gold prices once again hit new all-time highs Wednesday after breaking the $2,000-per-ounce level for the first time ever this week. Fortunately for precious metal investors, BofA Securities said global economic conditions suggest even more upside ahead. Gold traded at $2,057/ounce ...

Gold prices are above $1,800 per ounce for the first time since 2011, sending gold stocks soaring.  Despite the big moves in gold prices and gold stocks, one analyst said Friday that shares of Eldorado Gold Corp (NYSE: EGO) are still undervalued. The Eldorado Gold Analyst: Bank of America...

The S&P 500 has rallied hard off its March lows, but the index remains down 12.9% year-to-date overall. The near-term economic outlook amid the COVID-19 shutdown is still unclear, creating a lot of uncertainty on Wall Street. The International Monetary Fund recently cut its 2020 global economic...