BMO Capital Markets reinstates coverage on gold, copper miners

BMO Capital Markets says gold and copper sectors are in good health; companies have decent margins, conservative balance sheets, and still good discipline on shareholder returns

Brokerage sees early growth tailwinds; a more supportive regulatory environment, ample funding sources, and an improving state of project readiness, despite macroeconomic concerns

BMO sees gold well-supported in the current rate environment in China and the U.S., and continued central bank buying of nearly one-third of annual mine supply as a major supporting factor

Says copper supply growth remains scarce and demand will continue to benefit from fiscal support outside the U.S. near term, and global infrastructure spending medium term

Brokerage reinstated coverage on the following: