Mining stocks this week
Among these four miners, only Hecla Mining has seen a YTD (year-to-date) fall of 29.8%. GFI, GOLD, and IAG have YTD gains of 34.2%, 19.2%, and 36.9%, respectively. The VanEck Vectors Junior Gold Miners ETF (GDXJ) has a marginal YTD loss of 0.79%.
Most of the mining stocks fell on Monday, December 4. Randgold Resources fell 0.17%, and GDXJ fell 0.70% that day.
Moving average readings
All four miners that we’re covering in this series are trading below their 20-day and 100-day moving averages except Gold Fields, which is trading close to its 20-day moving average. A reasonable discount below the 20-day and 100-day moving averages suggests a potential revival in price, while a premium indicates a likely fall in price.
The select miners’ target prices are higher than their current trading prices, which indicates that their stocks could rise.
GFI, GOLD, HL, and IAG have RSI (relative strength index) levels of 61.1, 52.8, 34.9, and 24.2, respectively. An RSI level below 30 indicates a potential upward movement in price, while an RSI higher than 70 suggests a possible downturn in prices. GDXJ’s RSI level is 43.2.