Target prices were naturally all down in line with a lower gold price target, with the most dramatic reductions occurring among the majors. Barrick dropped from $50 to $26, Newmont from $59.75 to $38.60, and Goldcorp from $61 to $41.75. Kinross' target price fared best among the majors, only slipping 12 percent, from $9 to $7.90. Some of the more compelling data comes from the "Adjustments to Our Models" section of the report detailing how the new valuation methodology affects specific companies under GMP's coverage. A few examples: The bottom line for gold investors? According to GMP, the gold mining trade is fraught with risk for the foreseeable future due to the macroeconomic winds buffeting gold, but is a true "contrarian play" right now which, according to investment experts like Rick Rule, spells opportunity if the right companies are chosen as investment vehicles.