Gens Aurea SpA’s shares advanced 3.1% to €9.85 on Euronext Milan on Tuesday, extending gains after Jefferies initiated coverage with a Buy rating and a €15 price target, implying roughly 56% upside from the prior close.
The Italian jewelry retailer, listed on Euronext Milan on July 14 at €10 per share, has seen its stock supported by a post-IPO stabilization program managed by BNP Paribas. The bank partially exercised a greenshoe option on Aug. 13, purchasing 276,818 shares at €10 each, increasing the total offering to 10.38 million shares.
Jefferies highlighted Gens Aurea’s operational momentum, noting the company operates over 530 stores across five countries and plans to expand to approximately 850 locations by 2029. The firm also pointed to the company’s hedging strategy, which covers more than 80% of acquired gold within one day, as a key risk management advantage.
Financial projections from Jefferies indicate revenue is expected to climb from €836 million in 2025 to about €2 billion by 2028, while EBITDA is forecast to rise from roughly €105 million to over €300 million. The company’s return on invested capital is projected to remain above 45% throughout the cycle.
Gens Aurea’s stock movement coincided with a broader rally in gold prices, which surged 4.35% to close at approximately $4,523 per ounce on Wednesday—the highest settlement in nearly three months. Analysts attributed the gold rally to declining long-term U.S. Treasury yields and a softer U.S. dollar. Italy’s FTSE MIB index advanced about 0.4% during the session.
