Gold prices muted as Fed approaches; Copper near 4-mth low By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Gold Prices and Federal Reserve Meeting: Gold prices saw a slight increase after a previous drop, as traders await the Federal Reserve's meeting for cues on interest rates. Spot gold rose to $2,387.98 an ounce, while futures increased to $2,431.35 an ounce, amid cautious sentiment towards the dollar.
Copper Market Concerns: Copper prices continued to decline due to fears of slowing demand from China and the potential increase in supply following a joint deal between BHP and Lundin Mining to expand copper production in South America. Benchmark copper futures fell to near four-month lows.
Analyst Views on PL
Wall Street analysts forecast PL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PL is 18.93 USD with a low forecast of 12.30 USD and a high forecast of 22.00 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.
11 Analyst Rating
8 Buy
3 Hold
0 Sell
Moderate Buy
Current: 26.380
Low
12.30
Averages
18.93
High
22.00
Current: 26.380
Low
12.30
Averages
18.93
High
22.00
About PL
Planet Labs PBC is a provider of global, daily satellite imagery and geospatial solutions. It designs, builds, and operates the earth observation fleet of imaging satellites. It provides mission-critical data, advanced insights, and software solutions comprising agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to derive value from satellite imagery. Its satellite data and analytics reveal actionable insights regarding phenomena, such as deforestation, agriculture, climate change, biodiversity, and supply chains worldwide. Its daily stream of proprietary data and machine learning analytics, delivered over its cloud-native platform, helps companies, governments and civil society use satellite imagery to discover insights as change happens. Its digital technology platform includes Agile Aerospace, Proprietary Big Data, and Platform and Analytics. Its products include Planet Monitoring, Planet Tasking, and others.
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.
