How Miners Are Moving amid Precious Metal Changes



Miners and metals

Most mining stocks have risen over the past two weeks with rising precious metals prices. However, on Thursday, July 27, most miners moved in the opposite direction as metals and saw a down day.

In this final part of the series, we’ll review the performance of New Gold (NGD), Franco-Nevada (FNV), AngloGold Ashanti (AU), and Hecla Mining (HL)

Franco-Nevada and Hecla Mining have year-to-date gains of 24.6% and 3.6%, respectively. New Gold and AngloGold have year-to-date losses of 1.3% and 8.8%, respectively. The Global X Silver Miners ETF (SIL) is trading with a marginal year-to-date rise of 5.6%.

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Technicals of mining stocks

These four miners are trading at premiums to their 20-day and 100-day moving averages except for AngloGold, which is trading at a discount to its 20-day and 100-day moving averages. 

A high premium over a stock’s price indicates that the price could fall. A significant discount to a stock’s price suggests a possible rise in the price. 

These miners’ target prices are higher than their current trading prices. When the current price is higher than the target price, it indicates a negative outlook. However, a target price above the current price indicates a positive outlook.

The RSI levels of these miners have also recovered. The SIL ETF has an RSI of approximately 62.


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