Among the four miners we’re covering, Goldcorp and Barrick have YTD (year-to-date) losses of 12.9% and 14.6%, respectively. Royal Gold and Kinross Gold have YTD gains of 32% and 22.8%, respectively. The Sprott Gold Miners, a mining-based fund, has a marginal YTD gain of 1.2%.
All four of the giant mining stocks that we’ve selected have 30-day trailing losses due to the continued downward price movement in precious metals.
Moving average indicators
The four miners that we’re discussing are currently trading below their longer-term 100-day moving averages and below their shorter-term 20-day moving averages. SGDM is also trading below its 20-day and 100-day moving averages.
A considerable premium above the 20-day and 100-day moving averages could suggest a potential fall in price. A good discount indicates a probable rise in price.
All four miners’ target prices are above their current trading prices, which indicates a potential increase in price.
The RSI levels for RGLD, GG, ABX, and KGC are 42.5, 13.6, 43.2, and 22.4, respectively. An RSI level below 30 is indicative of a potential scale in price, while an RSI higher than 70 suggests a possible fall in price. GDX’s RSI level is 49.2.