Commodities Are Strong in the Early Hours on December 15
At 6:30 AM EST on December 15, the West Texas Intermediate crude oil futures for January 2018 delivery were trading at $57.34 per barrel—a gain of 0.53%.
AG’s recommendations are currently split equally between “buy” and “hold.”
Of the 13 analysts covering IAG stock, 54% recommend a “buy,” while 46% recommend a “hold.” IAG doesn’t have any “sell” ratings.
RGLD is being covered by 13 Wall Street analysts right now, of which 54% recommend a “buy” for the stock, while 46% recommend a “hold.”
Right now, 22 Wall Street analysts are tracking GGN stock, of which 59% recommend a “buy,” 36% recommend a “hold,” and 5% recommend a “sell.”
According to the consensus collected by Thomson Reuters, 17 analysts currently cover AEM’s stock, 59% of which recommend a “buy.”
NEM stock is being covered by 18 Wall Street analysts today, of which 61% recommend a “buy” for the stock, while 39% recommend a “hold.”
Similar to Pan American Silver (PAAS), AngloGold Ashanti (AU) has recently climbed into the analysts’ top ten in terms of percentage “buy” recommendations.
Pan American Silver (PAAS) ranks third among the major precious metal miners in terms of percentage “buy” recommendations from analysts.
Right now, of the nine Wall Street analysts covering CDE stock, according to Thomson Reuters, 78% recommend a “buy,” while 22% recommend a “hold.”
Wheaton Precious Metals (WPM), the world’s largest precious metals streaming company, has received the highest percentage of “buy” recommendations at 92.0%.
Gold prices remain under pressure as the demand for alternative investments, including equity stocks and bitcoin, remain strong in the risk-on environment.
Gold Fields, Wheaton Precious Metals, Pan American Silver, and IamGold have RSI scores of 36.7, 55.2, 41.9, and 44.4, respectively.
The correlation for Franco-Nevada (FNV) with gold has fallen from a three-year correlation of 0.60 to a year-to-date correlation of 0.53.
Agnico Eagle Mines has risen 1.5 %year-to-date. Barrick Gold, Eldorado Gold, and Harmony Gold reported year-to-date losses of 11.7%, 60.9%, and 21.3%, respectively.
The US dollar (UUP) fell 0.71% on December 13—the day the Federal Reserve raised interest rates a quarter point to 1.25%–1.50%.
Precious metals and miners saw some relief on December 13 after the Fed raised rates as expected. Sibanye Gold (SBGL), Aurico Gold (AUQ), and Goldcorp (GG) rose 3.5%, 3.6%, and 5.8%, respectively.
The Global X Silver Miners ETF (SIL) and the Sprott Gold Miners (SGDM) have fallen 3.5% and 4.4%, respectively, on a 30-day trailing basis.
Sibanye, Gold Fields, Barrick, and Iamgold have call implied volatilities of 48.1%, 37.3%, 24.8%, and 40.4%, respectively.
New Gold and Coeur Mining have seen YTD losses of 14.3% and 22.3%, respectively, while NEM and SLW have seen YTD gains of 1.5% and 8.1%, respectively.