Monday, July 12, 2010

Stifel Nicholas Initiates Coverage on IAMGOLD (NYSE:IAG), Eldorado (NYSE:EGO), Kinross (NYSE:KGC), Others

Stifel Nicholas initiated coverage on a large number of gold mining companies today, including IAMGOLD (NYSE:IAG), Eldorado (NYSE:EGO), Kinross (NYSE:KGC), Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Osisko Mining (TSE:OSK), European Goldfields (TSE:EGU) and Newmont Mining (NYSE:NEM).

Eldorado Gold, Barrick Gold, Kinross Gold and Goldcorp were all started off with "Holds" by Stifel.

While Iamgold, European Goldfields, Osisko Mining and Newmont Mining received a "Buy" from the financial institution to begin with.

Even though Stifel was bullish over the gold sector, only two of these companies were in the positive Monday, Goldcorp in New York and European Goldfields in Toronto.

Gold prices were down again today, as they continue to linger at about the $1,200 an ounce mark.

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