The Saracen Mineral Holdings Limited (ASX: SAR) share price has been one of the best performers in the resources sector this year.
The gold miner and mineral exploration company's shares are up over 50% since the turn of the year. But this strong run could be coming to an end according to one leading broker.
According to a note out of Bell Potter today, its analysts have slapped a sell rating on Saracen Mineral's shares. As well as this, the broker has placed a $1.25 price target on its shares.
Based on Saracen Mineral's current share price of $1.49, Bell Potter's price target implies potential downside of over 16%.
Brokers aren't bearish on all gold miner's though. According to a research note out of Citi this week, its analysts have given a buy rating to Perseus Mining Limited (ASX: PRU) and placed a 52 cents price target on its shares.
