NGEx Minerals price target raised to C$13 from C$12 at Jefferies

Jefferies raised the firm’s price target on NGEx Minerals to C$13 from C$12 and keeps a Buy rating on the shares. Rather than cooling down, gold has been trading with higher torque to falling real rates, notes the firm, which thinks gold can continue to gain in the near-term. The firm has updated its commodity price outlook and hiked targets on the metals and miner equities covered by the analyst by an average of 13%.