Perhaps Wall Street analysts are starting to defend beaten-down gold miners, as Deutsche Bank...

|By:, SA News Editor

Perhaps Wall Street analysts are starting to defend beaten-down gold miners, as Deutsche Bank upgrades South Africa's Gold Fields (GFI +2.6%) and AngloGold (AU +1.1%) to Buy from Hold. While the firm says the stocks look more expensive vs. spot gold (25x FY14 estimates), it believes the miners will now prioritize cost and capex cuts to protect free cash flow.