Gold miners’ leveraged performance
In addition to gold’s price movements, gold miners are also affected by company-specific factors. In 2019 so far, several company-specific issues have affected miners’ performance.
Barrick Gold (GOLD) completed its merger with Randgold Resources on January 1. It has also been affected by issues at its mines. Kinross Gold (KGC) and Eldorado Gold (EGO) came under stress due to mining code changes and government interference where they operate. Newmont Mining (NEM) also announced a merger with Goldcorp (GG) in January.