BlackRock Sees Undervalued Gold Miners Despite High Prices

Evy Hambro, BlackRock’s Global Head of Thematic and Sector Investing, has highlighted the undervaluation of gold mining companies despite record gold prices. This sentiment reflects a potential for significant growth in the gold market, with Hambro suggesting that mining stock valuations may remain relatively low amidst global economic shifts. Hambro believes these companies are currently earning substantial profits, highlighting their historically undervalued status. BlackRock has actively invested in prominent gold miners like Newmont and Endeavour Mining, further demonstrating confidence in these companies’ valuations.