Here we are, allmost the middle of summer when Gold typically has a slowdown and seasonal lows and we get an upgrade of several gold mining companies from UBS. Is this a omen for things to come for the continued gold bull market into the latter half of 2010?
In any case, it's bullish for an analyist to raise price targets of gold miners in late June.
UBS AG analysts on Wednesday raised their price target on a slew of gold and silver mining companies, sending shares of most impacted companies up.
Iamgold Corp. shares ticked up 1.3% to $17.85 after price views were boosted to $23.00 from $21.50 by the investment bank.
Shares of Barrick Gold Corp. gained 1.6% to $45.71 with a lifted target of $57.50 from $53.50.
Other U.S. metals and miners with raised price targets include Cott Corp. , Eldorado Gold Corp. , Goldcorp Inc. , Agnico-Eagle Mines Ltd. , Silver Wheaton Corp. , Pan American Silver Corp. , and Newmont Mining Corp. .