Macquarie upgrades Evolution Mining and Greatland Resources to outperform, sets $13 and $14 targets

Macquarie Securities this week upgraded Evolution Mining (EVN) and Greatland Resources (GGP) from neutral to outperform and set price targets of $13 and $14, respectively. The broker kept Newmont (NEM), Capricorn Metals (CMM) and Genesis Minerals (GMD) at outperform. The report noted gold is down 3% year to date, but valuations for gold miners have pulled back to more reasonable levels, according to Macquarie.