It's hard to find many defenders of gold these days, but Sterne Agee's Michael Dudas thinks gold prices are discounting a smooth Fed taper, which he views as unlikely, and like the underlying metals, precious metals stocks are finding a base valuation. Buy-rated Newmont Mining (NYSE:NEM) remains the firm's top pick among large-cap gold stocks; Coeur d'Alene (NYSE:CDE) is its small cap favorite.