Gold mining stocks surged Monday, helped by a surge in gold prices and an upbeat research note on the sector at RBC Capital. the Market Vectors Gold Miners ETF climbed 4.5%, with all 39 of its equity components gaining ground. Shares of Kinross Gold Corp. ran up 8.3%, and was the biggest gainer among North America-based miners, after the company was upgraded to outperform from sector perform at RBC Capital, with cited valuation, amid an improving outlook for gold prices. RBC also raised its 2016 gold price forecast to $1,250 an ounce from $1,150 an ounce. Shares of AngloGold Ashanti Ltd. rose 4.6%, after the company was upgraded at RBC, while Goldcorp Inc.’s stock gained 3% despite being downgraded at RBC on valuation concerns. Elsewhere, shares of Barrick Gold Corp. advanced 5%, of Newmont Mining Corp. rose 4.5% and of Yamana Gold Inc. rallied 6.1%. Meanwhile, April gold futures jumped 1%.
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