摩根大通：国际金价或已触及周期性底部
关键字：国际金价
摩根大通(J.P. Morgan)上周五表示，国际金价可能已经在2013年6月和12月触及了周期性底部，此外随着南非兰特贬值，目前不少南非矿业股很有购买吸引力。
摩根大通分析师Allan Cooke, Steve Shepherd以及Abhishek Tiwari评论：基于当前新兴市场及商品货币兑美元正不断贬值，金价很可能已经接近了一个周期性的底部。另外，我们认为部分矿业股，如SA gold、Harmony Gold以及Sibanye Gold正被低估，投资者在2014年买入这些股票将获得良好的回报。
尽管受贵金属下跌的影响，南非矿业方面可能在未来几周持续受到矿工罢工威胁的影响，但我们还是提倡购买这些股票。
若Harmony Gold (HMY)市盈率正低于0.7x，则相对较便宜；若市盈率高于1.2x，则偏贵。而当前该公司股票的市盈率仅为0.44x，推荐买入。Gold Fields (GFI)当前的市盈率在0.83x，尽管该数值在0.90x左右会根据购买吸引力，但也推荐买入。
AngloGold Ashanti (AU)当前的市盈率在1.32x，因此不推荐买入，除非该数值降至0.9x以下。Randgold Resources (GOLD)推荐卖出，因其当前市盈率在2.72x，通常数值高于2x可以被定义为估值较高。
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本文来源： 大田环球贵金属
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