{
  "id": 16780192,
  "title": "Gold miners trade at discount after selloff: Haywood",
  "url": "https://urgent.news/2026/10/27/gold-miners-trade-at-discount-after-selloff-haywood",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-27T14:06:13.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/gold-miners-trade-at-discount-after-selloff-haywood/"
  },
  "original_language": "en",
  "account": "Major gold producers are presently trading at a substantial discount to their five-year average valuation, despite generating strong cash flow. According to Haywood Securities, these companies are trading at 6.82 times their projected cash flow over the next 12 months, compared to their historical average of 8.83 times. This represents a 23% decrease from the historical norm. The firm attributes this recent sell-off to a consolidation phase within an ongoing bull market for precious metals, backed by key drivers such as central bank purchases, efforts to lessen reliance on the U.S. dollar, and elevated global debt levels. Analysts at Haywood anticipate near-term volatility as investors consider high oil prices and inflation against the backdrop of interest rate outlook. While precious metals remain supported in the long term by central bank accumulation, de-dollarization, and high global debt levels, the metal's appeal may be diminished by higher interest rates, which generally reduce interest from gold. The bank identifies strong balance sheets as a catalyst for further mergers and acquisitions, leading to increased competition for exploration and development projects. Haywood's top three recommended gold producers are First Mining Gold, Thesis Gold & Silver, and Troilus Mining, all Canadian exploration companies. First Mining's Springpole gold project in Ontario is awaiting a provincial environmental assessment decision, with the firm holding a buy rating and a target price of C$1.75 per share. Thesis Gold & Silver's Lawyers-Ranch gold-silver project in British Columbia is expected to have a feasibility study completed by the end of 2027, with Haywood maintaining a buy rating and a $6.50 target. Lastly, Troilus Mining's gold-copper project in Quebec is nearing a construction decision after securing a credit-approved loan commitment of $850 million for a planned $1.1 billion debt package. Haywood rates the stock a buy with a $4.50 target. The firm maintains its current forward commodity price assumptions for gold and silver, with gold priced at $4,000 per oz. in the fourth quarter and reaching $4,250 by 2029, and silver priced at $55 per oz. in the fourth quarter and increasing to $60 per oz. by 2029.",
  "summary": "Senior gold miners are trading 25% below their five-year average, despite strong cash flow, says Haywood Securities.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}