How Mining Stocks Are Performing

The precious metals continued rising on Wednesday, and gold also witnessed a rebound.

Meera Shawn - Author

Oct. 5 2017, Updated 5:36 p.m. ET


Miners post gains

Precious metals continued rising on Wednesday, and gold also witnessed a rebound. The mining companies often move with precious metals. However, that’s not always the case. During the last few days, when gold kept dipping, the miners maintained their ground and posted gains.

In this article, we’ll discuss B2Gold (BTG), Royal Gold (RGLD), New Gold (NGD), and Agnico-Eagle Mines (AEM). These four stocks have risen 4%, 12.3%, 22.5%, and 3.2%, respectively, during the last 30 trading days. The GDX ETF also managed a rise of 9% during the same timeframe. However, gold has lost almost 4% on a 30-day trailing basis, and silver has lost 6.7%.

On a YTD basis, BTG, RGLD, NGD, and NEM have risen 21.1%, 36.7%, 7.1%, and 8.2%, respectively. Gold and silver have YTD gains of 11% and 3%, respectively.

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Technicals of miners

All the four miners, except BTG, are trading below their 20-day moving average. However, all except AEM are above their 100-day moving average.

huge premium over the 20-day and 100-day moving averages could suggest that their prices may soon fall. However, a significant discount below the 20-day and 100-day moving average could suggest that the price may rise.

The RSI levels of most mining companies have revived as their prices have also witnessed a rise. BTG, RGLD, NGD, and AEM have RSI levels of 61, 29.5, 39.4, and 27.4, respectively. GDX has an RSI of 37.1.


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