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How Mining Stocks Have Performed in April So Far

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Apr. 6 2018, Updated 8:09 a.m. ET

Mining stocks

Initially, the Fed’s decision to raise the interest rate didn’t affect miners and metals much. But over the past week, both metals and miners have been choppy.

In this part of the series, we’ll look at miners’ RSI (relative strength index) scores and implied volatilities. The miners we’ve selected for our analysis are Silver Wheaton (SLW), Pan American Silver (PAAS), AngloGold Ashanti (AU), and Eldorado Gold (EGO).

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Silver Wheaton and Pan American have risen 5.5% and 4%, respectively, on a 30-day trailing basis. Eldorado Gold and AngloGold have fallen 15.5% and 0.32%, respectively, during the last 30 trading days. The VanEck Vectors Junior Gold Miners ETF (GDXJ) and the Sprott Gold Miners ETF (SGDM) have risen 0.78% and 0.92%, respectively, on a 30-day trailing basis.

Volatility analysis

Implied volatility measures price fluctuations in an asset based on changes in the price of its call option. SLW, PAAS, AU, and EGO have implied volatilities of 30.8%, 36.1%, 41%, and 100.5%, respectively.

RSI readings

A stock’s RSI score indicates whether it’s overbought or underbought. If a stock’s RSI level is above 70, it suggests that the stock could be overbought and that its price could fall. An RSI level below 30 suggests that a stock could be oversold and that its price could rise. SLW, PAAS, AU, and EGO have RSI scores of 57.8, 52.8, 50, and 31.8, respectively.

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