With the gold price trading close to record highs, it certainly is a great time to be a gold miner.
And with interest rates tipped to fall next year, 2024 could be a golden year for this side of the market.
But which ASX 200 gold shares could be good options for investors?
Two that Bell Potter has just put buy ratings on are listed below. Here's what the broker is saying about them:
Capricorn Metals Ltd (ASX: CMM)
Bell Potter has put a buy rating and $5.70 price target on this ASX 200 gold share. This implies a potential upside of 25% for investors over the next 12 months.
The broker believes that Capricorn is one of the best gold miners on the local market. It commented:
CMM is a sector leading gold producer with a strong balance sheet and a management team with an excellent track record of delivery. Its gold production costs are among the lowest in the sector and it consistently generates strong cash margins. Retain Buy.
Regis Resources Ltd (ASX: RRL)
Another ASX 200 gold share that has been given the thumbs up by Bell Potter is Regis Resources.
Its analysts were pleased with the recent closure of its hedge book, noting that it is now fully unhedged and positioned to benefit fully from the strong gold price. It also sees Regis Resources as a potential takeover target. The broker said:
RRL is one of the largest ASX gold producers with an attractive all-Australian asset portfolio and organic growth options which are unique at this scale. It now offers full exposure to the gold price and strong free cash flow growth over FY24 and FY25. These attributes also make RRL an appealing corporate target in the current M&A environment.
Bell Potter has a buy rating and a $2.37 price target on its shares.
