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How Are Precious Metal Miners Doing in September?

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Dec. 4 2020, Updated 10:52 a.m. ET

Miners over the past month

Most mining stocks have risen over the past month due to a substantial rebound in the prices of precious metals. To evaluate the performance of these mining stocks, we’ll look at their moving averages and returns over the long and short terms.

In this part, we’ll look at Newmont Mining (NEM), Agnico-Eagle Mines (AEM), Silver Wheaton (SLW), and Franco-Nevada (FNV).

On a year-to-date basis, Newmont, Agnico-Eagle, Silver Wheaton, and Franco-Nevada have risen 12.2%, 17.7%, 6.2%, and 38.4%, respectively. The silver-based Global X Silver Miners ETF (SIL) has risen 8.6% in the same period.

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Miners’ technicals

All these four miners are trading above their 20-day and 100-day moving averages.

A significant premium indicates that the price may fall. A considerable discount, on the other hand, suggests that a stock may see an upward correction. All four miners’ target prices are above their current trading prices. When a stock’s current price is above its target price, that indicates a negative outlook. A target price above the current price can appear positive.

The RSI levels of Newmont, Agnico-Eagle, Silver Wheaton, and Franco-Nevada are 63.1, 61.5, 67.1, and 64.4, respectively. SIL’s RSI level is 60.0.

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