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Aussie Gold Miners to Find M&A Hard in 2018 -- Market Talk

8 Jan 2018 12:43 am

0043 GMT - For Australian gold miners, 2018 will be a good year for cash generation. The problem, as Macquarie sees it, is that there are few catalysts for growth. "We expect the strength in gold to also support high asset valuations and expect M&A activity to be muted," Macquarie says. It views 2018 as a year where gold miners focus on building cash, maintaining dividends and strengthening balance sheets in preparation for longer-dated M&A opportunities. Macquarie drops Evolution, St Barbara and Saracen Mineral to neutral from outperform due to share-price strength. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 07, 2018 19:43 ET (00:43 GMT)

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