NGEx Minerals price target raised to C$16 from C$14 at Jefferies

Jefferies raised the firm’s price target on NGEx Minerals (NGXXF) to C$16 from C$14 and keeps a Buy rating on the shares. The firm continues to see gold price support from central bank purchases and the Fed rate cut cycle, albeit at a slower pace than previously envisaged, and is calling for $2,658/oz gold and $4.15/lb copper in 2025, the analyst tells investors.