Miners and metals
When investing in the precious metal market, it’s important to know which mining stocks are underperforming and which ones are outperforming their competitors. In this part of the series, we’ll review the performances of B2Gold (BTG), Gold Fields (GFI), Pan American Silver (PAAS), and Coeur Mining (CDE).
B2Gold, Gold Fields, and Pan American have year-to-date gains of 3.4%, 31.2%, and 10.8%, respectively. Coeur Mining has a YTD loss of 11.1%. The mining-based VanEck Vectors Gold Miners (GDX) is trading with a YTD rise of 8.8%.
Technicals of mining stocks
Of the four miners discussed above, B2Gold and Coeur Mining are trading below their 20-day and 100-day moving averages. Pan American is trading below its 100-day moving average, while Gold Fields is above both its 20-day and 100-day moving averages.
A considerably high premium over a share’s price indicates a possible fall in price, and a considerable discount to a stock’s price suggests a pullback in price.
These miners’ target prices are higher than their current trading prices with the exception of GFI. When the target price is lower than the current trading price, it indicates a negative outlook. On the other hand, a target price above the current price indicates a positive outlook.
The RSI levels of these miners have also recovered. The GDX ETF has an RSI of approximately 72.6.