Close menu

April 13th, 2023 | 10:52 CEST

Vonovia, Barrick Gold, Blackrock Silver: Gold and silver shares in demand again

  • Mining
  • Silver
  • Gold
  • Lithium
  • RealEstate
Photo credits:

Gold and silver continue to develop strongly. The prices for the precious metals are shooting upward this week. Price targets for gold ranging from USD 2,500 to USD 3,000 are creating a good mood. And new all-time highs are also expected for silver. Meanwhile, shares in the sector can also profit from this. Barrick Gold looks very interesting from a chart perspective, and analysts will probably have to adjust the assumed gold price upward in their earnings forecasts. The second sector giant Newmont, on the other hand, has opened the takeover carousel. Therefore, it should only be a matter of time before the explorers also jump on board. Blackrock Silver, for example, has exciting silver and lithium projects. And all of them are in the US. Experts also see initial entry opportunities in "concrete gold". After the sell-off, analysts recommend investing in Vonovia real estate shares.

time to read: 4 minutes | Author: Fabian Lorenz
ISIN: VONOVIA SE NA O.N. | DE000A1ML7J1 , BARRICK GOLD CORP. | CA0679011084 , Blackrock Silver | CA09261Q1072

Table of contents:

    Barrick Gold: Analyst estimates too low?

    The experts at have published an update on Barrick Gold and see good chances that the share will be one of the outperformers on the stock market in the coming months. After years of underperformance, mining stocks remain underrepresented in investors' portfolios. There is also room for improvement in analyst estimates. The average price target of the 17 analysts covering Barrick is CAD 29.70 (source: Refinitiv Eikon), which is not far above the current price of CAD 26.17. However, due to the high dynamics in the commodities sector, it is to be expected that Barrick will be able to achieve higher sales prices than some analysts expect. With corresponding upgrades, Barrick's share price should also get a boost.

    Operationally and financially, Barrick Gold has done its homework in recent years. Due to a strong 4th quarter, the group has come close to achieving its production targets. The final gold production for 2023 was 4.14 million ounces, only 1% below the forecast. Copper production of 440 million pounds was in the expected range of 420 to 470 million pounds. Due to stable production costs and rising selling prices, Barrick earned about USD 500 per ounce shipped in 2023 - a record level. Mainly due to investments in the copper sector, the group's operating cash flow declined from USD 4.38 billion to USD 3.48 billion, but the annual dividend was raised from USD 0.37 to USD 0.65 per share.

    Barrick is optimistic about the outlook and is betting on renewables. It is expected to produce 4.2 billion to 4.6 billion ounces of gold. For copper, the range is 420 million to 470 million pounds. Input costs are expected to remain unchanged in 2023. Management has also emphasized the transformation of energy demand towards renewable sources. This transition, it said, comes at a cost but is a prerequisite for meeting the increasing ESG criteria of investment companies. One example of Barrick's progress in renewable energy is the Loulo-Gounkoto mine. A solar plant was installed there, which reduces CO2 emissions by 62,000 tonnes per year.

    Blackrock Silver: Share ripe for a recovery also points out in their update on Barrick that investors should diversify their investments in the mining sector. Explorer stocks also belong in a precious metals portfolio. While the shares of large corporations are finally picking up, many explorers still have some catching up to do. The share of Blackrock Silver also belongs to this group. The Canadian explorer focuses on developing projects in the US state of Nevada. That already significantly reduces a frequently occurring country risk. In addition, the Company is not only focusing on silver projects, but also on lithium.

    With the Tonopah West project, Blackrock Silver owns one of the highest-grade undeveloped silver projects in the world. There is even the potential for resource expansion. The newly consolidated land package comprises 100 patented and 279 unpatented mining claims covering an area of 25.5 sq km. The first adit-optimized mineral resource estimate is already in: 2.975 million tonnes grading 446 grams for a total of 42.65 million ounces of silver.

    In addition, there is an exciting lithium project. In 2022, the exploration programme has not only led to a doubling of mineralization over the first resource boundary, but they have also discovered lithium. A lithium project in the US is arguably more valuable than anywhere else in the world. That is because the US government has declared independence along the electric mobility value chain and is massively promoting the entire sector. Although Blackrock Silver is still in the early stages of its lithium project, progress is already expected this year. In February, a 3,000-metre drilling programme was started. The approval process for another 4,000-metre drilling programme is underway. Implementation is planned for the current quarter. Blackrock Silver has secured financing in the past weeks. Due to the meanwhile completed capital measures, the share price came under pressure and currently offers an interesting entry opportunity at CAD 0.37. In January, the share was quoted at over CAD 0.60.

    Vonovia: Time to buy?

    The analysts at RBC believe that the time has come to enter Vonovia. For them, the share is a buy with a price target of EUR 33. Thus, the analysts believe a near doubling of the share price is possible. Investors are currently focusing too much on the financial situation of real estate companies against the backdrop of rising interest rates and are ignoring operational developments. The prospects for Vonovia's operating business remain good. The analysts do not rule out a capital increase, but in their view, this would not noticeably dilute the attractiveness of the Vonovia share. DZ Bank is also in the optimist camp when it comes to Vonovia. The analysts recommend buying the share and have a price target of EUR 27.50. They consider the panic reactions of investors in recent weeks to be exaggerated. From their point of view, there is currently no threat of a drastic devaluation of real estate stocks. Among the pessimists is Barclays. Their analysts see further price risks in the entire real estate sector. German residential real estate companies still have to adapt their business models and balance sheets to the changed environment of high-interest rates. Their target price for Vonovia is EUR 18. The share is currently trading just above this.

    Gold and silver are shining again. The shares of the big producers have started to rise. Barrick is fundamentally sound, attractive from a chart perspective and a basic investment. Blackrock Silver has exciting projects in the silver and lithium sector, has secured financing for further drilling programmes, and the share has catch-up potential. The Vonovia share has recovered somewhat after the massive sell-off in recent days. However, rising interest rates, devaluation risks of the existing portfolio and a possible capital increase could cause panic again at any time.

    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

    Risk notice

    Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.

    The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.

    The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use.

    Der Autor

    Fabian Lorenz

    For more than twenty years, the Cologne native has been intensively involved with the stock market, both professionally and privately. He is particularly passionate about national and international small and micro caps.

    About the author

    Related comments:

    Commented by André Will-Laudien on June 17th, 2024 | 06:45 CEST

    Acute threat? Armaments and high-tech in the crosshairs: Aixtron, Almonty Industries, Rheinmetall and Hensoldt

    • Mining
    • Tungsten
    • hightech
    • Defense
    • armaments

    The recent European elections have enabled the conservative camp to make significant gains. Undoubtedly, a whole bouquet of issues has led to the so-called "shift to the right". In times of war, however, the neutral observer may not be surprised that the self-proclaimed peace parties, represented by the colours red and green, have lost considerable ground. After all, the competence for peacemaking and security in Europe tends to be found in the conservative camp. The capital markets currently favour high-tech and armaments, orders are booming, and growth is assured for years to come. It is now crucial for stock market players to take a closer look at these sectors, as the high-yield performers of the first half of the year appear to be correcting more strongly. What will happen here in the medium term?


    Commented by Fabian Lorenz on June 13th, 2024 | 07:00 CEST

    Stocks on the verge of a breakout! Rheinmetall, TUI, Desert Gold

    • Mining
    • Gold
    • Defense
    • Travel

    Will Rheinmetall soon reach a new all-time high? An insider thinks so and is buying a sizeable block of shares in the armaments group. The news situation could hardly be better for the DAX-listed company. The price of gold could also break out and rise to USD 2,700 in the next wave, according to a renowned expert. Desert Gold should benefit noticeably from this. The Company's market capitalization is only a fraction of the proven gold resource, and drilling continues. And what is TUI doing? The share is not making any real progress. However, it should benefit from the FTI collapse, and the crucial summer season brings a high booking volume.


    Commented by André Will-Laudien on June 12th, 2024 | 07:15 CEST

    After the election, buy a combustion engine now? Mercedes-Benz, Volkswagen, Globex Mining and BYD on the test track

    • Mining
    • Gold
    • Commodities
    • Electromobility
    • Batteries

    The crushing defeat of the green camp in the EU elections has caused a stir in the automotive industry. Will the ban on combustion engines be overturned in favour of a general openness to technology? It is well known that the best conventional vehicles come from Germany, and they are demonstrably no more harmful to the climate than current e-vehicles. Voters have finally lifted the green veil, and the doctrine of the know-it-alls is now in retreat. From a climate perspective, investing in battery storage systems makes sense, but they do not necessarily have to be installed in vehicles. How can investors benefit from the current situation?