As previously reported, CIBC upgraded Fortuna Mining (FSM) to Neutral from Underperformer with a price target of C$16, up from C$9. The firm, which is raising its gold price forecast to $6,000/oz in 2026, $6,500/oz in 2027 and $6,000/oz in 2028, expects the same demand drivers from 2025 to remain in place in 2026, but sees heightened geopolitical uncertainty and expects pressure on the U.S. dollar with one to two rate cuts in 2026.
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Read More on FSM:
- Fortuna Mining upgraded to Neutral from Underperformer at CIBC
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