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Top broker slaps sell rating on Saracen Mineral Holdings Limited shares

The Saracen Mineral Holdings Limited (ASX: SAR) share price has been one of the best performers in the resources sector this year.

The gold miner and mineral exploration company’s shares are up over 50% since the turn of the year. But this strong run could be coming to an end according to one leading broker.

According to a note out of Bell Potter today, its analysts have slapped a sell rating on Saracen Mineral’s shares. As well as this, the broker has placed a $1.25 price target on its shares.

Based on Saracen Mineral’s current share price of $1.49, Bell Potter’s price target implies potential downside of over 16%.

Brokers aren’t bearish on all gold miner’s though. According to a research note out of Citi this week, its analysts have given a buy rating to Perseus Mining Limited (ASX: PRU) and placed a 52 cents price target on its shares.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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