Global Gold Mining Markets Are Likely to Reach $274 Billion By 2032 as Mining Operations Ramp Up
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
0mins
Source: Globenewswire
Gold Mining Market Growth: The global gold mining market is projected to grow from USD 208.9 billion in 2023 to USD 274.2 billion by 2032, driven by increasing demand across sectors such as jewelry and technology, as well as advancements in automation and robotics that enhance efficiency and safety in mining operations.
Recent Developments in Mining Companies: South Pacific Metals Corp. has appointed Dean Williamson as Exploration Manager to lead drilling projects in Papua New Guinea, while other companies like K92 Mining and Newmont Corporation are reporting significant drilling results and introducing sustainable technologies, respectively, highlighting ongoing exploration and innovation in the industry.
Analyst Views on SPMC
Wall Street analysts forecast SPMC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPMC is 17.50 USD with a low forecast of 16.00 USD and a high forecast of 18.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 14.280
Low
16.00
Averages
17.50
High
18.50
Current: 14.280
Low
16.00
Averages
17.50
High
18.50
About SPMC
Sound Point Meridian Capital, Inc. is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate high current income, with a secondary objective to generate capital appreciation. It seeks to achieve its investment objectives by investing primarily in third-party collateralized loan obligations (CLO) equity and mezzanine tranches of predominately United States dollar denominated CLOs backed by corporate leveraged loans issued primarily to United States obligors. It may also invest in other securities and instruments including, among other investments, junior debt tranches of CLOs and loan accumulation facilities. The Company is externally managed and advised by Sound Point Meridian Management Company, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
