GoGold Resources initiated with a Buy at Stifel

Stifel analyst Cole McGill initiated coverage of GoGold Resources (GLGDF) with a Buy rating and C$5.25 price target Mexican operating risks, the firm thinks “painting risk with a wide brush provides mispriced opportunities” and the potential in time to see broader jurisdictional rerating via policy softening. The permit receipt for Los Ricos should unlock largely funded 500% growth by 2029 and a significant rerating, the analyst tells investors.