- Credit Suisse sees potential for a near-term rally in gold prices, and expects copper prices to do well this year.
- The firm upgrades First Quantum Minerals (OTCPK:FQVLF) to Outperform from Neutral on positive copper and stock re-rating catalysts in H2 2015, and likes HudBay Minerals (NYSE:HBM) and Tahoe Resources (NYSE:TAHO); it downgrades Teck Resources (TCK) to Neutral from Outperform based on a weaker outlook for coking coal and valuation.
- Among gold miners, CS prefers Agnico Eagle Mines (NYSE:AEM) for its lower cost assets, operational consistency, strong free cash flow and organic exploration and growth opportunities, and Goldcorp (NYSE:GG) for its growth and relatively strong balance sheet; Yamana Gold (NYSE:AUY) and Detour Gold (OTCPK:DRGDF) provide leverage to a gold price rally.