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Mining Stocks’ Movement in the First Week of November

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Nov. 10 2017, Updated 7:34 a.m. ET

Mining stocks and their performances

Precious metal miners had a mixed performance on November 7. In this series, we’ll look at mining stocks’ technical details like moving averages and YTD (year-to-date) three-month returns. We’ll compare the performances of First Majestic Silver (AG), Royal Gold (RGLD), Agnico-Eagle Mines (AEM), and Yamana Gold (AUY).

Among the four miners we’re covering in this series, First Majestic Silver and Yamana Gold have seen a YTD loss of 11.1% and 5%, respectively. However, Royal Gold and Agnico have seen a YTD gain of 40.6% and 7.2%, respectively. The VanEck Vectors Gold Miners ETF (GDX) has a marginal YTD gain of 8.7% as of November 6, 2017.

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Moving averages

Royal Gold and Yamana are trading above their 20-day and 100-day moving averages, while First Majestic Silver is below its 100-day and 20-day moving average. Agnico is below its longer-term 100-day moving average. A massive discount below the 20-day and 100-day moving averages suggests a possible revival in the price, while a premium indicates a likely fall.

The four mining shares’ target prices continue to be higher than their current trading prices, which suggests that there could be a rise in the price.

RSI indicator

First Majestic Silver, Royal Gold, Agnico-Eagle Mines, and Yamana Gold have RSI levels of 46.7, 55.7, 51.8, and 48.6, respectively. An RSI level below 30 indicates a potential upward movement in the price, while an RSI above 70 indicates a possible downturn in the price. GDX’s RSI level is 38.6. The low RSI numbers indicate that prices could revise upward.

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