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Basic MaterialsWill Silver Miners’ Multiples Expand after a Long Dry Spell?
On November 14, 2018, Pan American Silver announced that it was buying Tahoe Resources in a $1.07 billion cash and stock deal.
MiscellaneousThis Ratio Signals Significant Upside: Should You Bet on Silver?
While the SPDR Gold Trust (GLD) has fallen 4.8% year-to-date, the iShares Silver Trust (SLV) has fallen 14.6% in the same period.
Basic MaterialsWhich Silver Miners Look Primed for a Rebound after a Dry Spell?
Of all the major silver stocks, Tahoe Resources (TAHO) is trading at the lowest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 3.3x.
Basic MaterialsWhich Gold Miners Look Promising as Gold Rebounds?
While gold miners have been out of favor for a long time, that may be about to change. As uncertainty in the market is increasing, gold prices are poised to rise.
Basic MaterialsWhich Silver Miners Look Reasonable at Current Valuations?
Of all the stocks we’ve covered in this series, Tahoe Resources (TAHO) is trading at the lowest enterprise-value-to-forward-EBITDA multiple of 3.5x.
MiscellaneousMining Stocks Today: Your Technical Updates
On October 5, Gold Fields, Agnico-Eagle, Cia De Minas Buenaventura, and AngloGold had implied volatility readings of 40.4%, 33.6%, 35.3%, and 40.9%, respectively.
MiscellaneousWhat Are Mining Stock Technical Indicators Telling Us?
On September 29, Alamos, First Majestic Silver, Franco-Nevada, and Pan American had call implied volatilities of 46.9%, 54.6%, 25.5%, and 34%, respectively.
Basic MaterialsReading the Technicals of Mining Shares in September 2017
Most mining shares witnessed an up day on Monday, September 25, 2017, as precious metals increased over the ongoing global tensions.
MiscellaneousHow Gold, Silver, and Mining Companies Performed on September 18
On September 18, gold fell 1.1% and closed at $1,306.90 per ounce. Of the precious metals, silver fell 3.1% and closed at $17.10 per ounce.
MiscellaneousA Correlation Study of Mining Stocks in September 2017
Among the four miners we’re looking at, Gold Fields has the highest correlation to gold on a YTD basis, while Sibanye Gold has the lowest correlation to gold.
Basic MaterialsA Look at Mining Stocks’ Correlation with Gold
Miners’ correlation with gold In this part, we’ll look at mining stocks’ correlation with precious metals by comparing their price movement. Specifically, we’ll analyze Alamos Gold (AGI), First Majestic Silver (AG), B2Gold (BTG), and Royal Gold (RGLD). The mining stocks have recovered in the past few weeks. The Direxion Daily Gold Miners Bull 3x Shares […]
Basic MaterialsThe Correlation Analysis of Miners through August 2017
Silver Wheaton has a three-year correlation of ~0.70 with gold and a year-to-date correlation of ~0.80.
Basic MaterialsBehind Silver Miners’ Debt Repayment Capacities
Silver companies try to maintain an optimal level of debt-to-equity to lower their costs of capital and maintain an optimum level of risk-reward for shareholders.
Basic MaterialsAssessing Gold Miners’ Capacity to Repay Debt through Earnings
Yamana Gold’s (AUY) net-debt-to-forward EBITDA ratio is 2.8x, which is higher than its peers’ ratios.
Basic MaterialsAnalysts Are Optimistic about Coeur Mining
Market sentiment for Coeur Mining Coeur Mining (CDE) is a high-cost producer compared with peers (RING) (SIL). While it has initiated several measures to bring down its costs in the last few years, they remain high. Higher costs make CDE more leveraged to gold and silver prices than other low-cost producers such as Barrick Gold (ABX) […]
MiscellaneousUnpacking the Technical Indicators for Mining Stocks
Mining stocks have bounced back from the choppy markets we’ve seen over the past month. On July 20, most mining stocks saw upward movements in their prices.
Basic MaterialsHave Miners’ Relative Strength Levels Revived?
In this article, we’ll look at some important technical indicators for Coeur Mining (CDE), Barrick Gold (ABX), Buenaventura (BVN), and AngloGold Ashanti (AU).
MiscellaneousHow Has Miners’ Volatility Trended in July?
Mining stocks have bounced back from the choppy markets seen over the past week.
MiscellaneousA Look at the Technical Indicators for Major Miners
On July 13, 2017, Franco Nevada, Randgold Resources, Yamana Gold, and Cia De Minas had implied volatilities of 28%, 28.4%, 55.4%, and 38.6%, respectively.
MiscellaneousWhat Are the Key Trends in Miners’ Correlations?
Over the past three years, Yamana, Sibanye, and Gold Fields have seen upward correlations in their correlation trends with gold.
MiscellaneousHow Precious Metals’ Slump Dragged Mining Shares and Funds Lower
Gold tumbled to an eight-week low on July 3, 2017. Gold futures for August delivery fell almost 1.9% to settle at $1,219.2 per ounce.
MiscellaneousThese Mining Companies Are Showing an Uptrend Correlation with Gold
When we try to interpret the performance of precious metals, it’s crucial to study the impact of metal price variations on mining shares.
MiscellaneousMining Stocks’ Relative Strength Index Hits Rock Bottom
The rise and fall of precious metals also significantly impact mining-based leveraged funds like the Direxion Daily Gold Miners (NUGT) and Proshares Ultra Silver (AGQ).
MiscellaneousWhy RSI levels of Mining Shares Are Rising
On June 6, the implied volatilities of Alamos Gold, Primero Mining, Silver Wheaton, and Franco-Nevada were 51.1%, 90.6%, 30.8%, and 24.5%, respectively.
Company & Industry OverviewsHow Silver Miners Rank Based on Debt Repayment Capacity
Coeur Mining (CDE) has a net debt-to-forward-EBITDA ratio of 0.40x, which seems comfortable. Hecla Mining’s (HL) ratio is slightly higher at 1.3x.
MiscellaneousHow Are the Correlations of Mining Stocks Moving?
Fears surrounding a potential upcoming interest rate hike took over precious metals recently, and they fell at the beginning of May 2017.
MiscellaneousMining Stocks Are Recovering from Their Slump
The Direxion Daily Gold Miners (NUGT) and the ProShares Ultra Silver (AGQ), both leveraged mining funds, both have recovered and jumped 19.4% and 24.9%, respectively, on a five-day trailing basis.
Company & Industry OverviewsAnalyzing Silver Miners’ Relative Valuations
Precious metals miners with substantial exposure to silver are usually classified as silver miners.
MiscellaneousWhat Falling Miner RSI Levels Suggest
The RSI levels of our four select mining giants have all increased lately due to their higher stock prices.
MiscellaneousReading the Mining Stocks’ Falling RSI Numbers
Newmont Mining, Silver Wheaton, Randgold, and Yamana have RSI levels of 45.5, 37.1, 41.2, and 43.0, respectively.
MiscellaneousCorrelation Trends of Miners to Gold
Among the leveraged mining funds, the Direxion Daily Gold Miners ETF (NUGT) and the Proshares Ultra Silver ETF (AGQ) have seen considerable losses over the past month.
MiscellaneousA Look at Mining Stocks’ Correlation with Gold in 2017
Mining stocks and precious metals As global tumult grips markets and investors are turning to mining stocks as safe havens, it’s crucial to understand which stocks are closely tied to precious metals. Stocks with a higher correlation with precious metals will likely be impacted more by global indicators that influence precious metals. The Direxion Daily […]
MiscellaneousBehind Mining RSI Levels and Volatility Now
Leveraged mining funds including the Direxion Daily Gold Miners (NUGT) and the Proshares Ultra Silver (AGQ) saw big jumps in early 2017 due to the revival in precious metals.
MiscellaneousAnalyzing the Volatility of Mining Stocks
As of April 6, 2017, the volatilities of New Gold (NGD), Agnico Eagle (AEM), Silver Wheaton (SLW), and Franco-Nevada (FNV) were 55.5%, 36.6%, 34%, and 30.1%, respectively.
MiscellaneousWhich Miners Are Seeing Falling Correlations with Gold?
Leveraged mining funds like the Direxion Daily Gold Miners (NUGT) and the ProShares Ultra Silver (AGQ) have seen significant correlations with their respective precious metals.
MiscellaneousHow Are Mining Stocks Performing at the Start of April 2017?
As of April 4, 2017, the volatilities of New Gold (NGD), Agnico Eagle Mines (AEM), Silver Wheaton (SLW), and Randgold Resources (GOLD) were 51.5%, 35.4%, 61.7%, and 54.1%, respectively.
Macroeconomic AnalysisUnderstanding Mining Stock Volatility in March
Now that mining companies have begun witnessing revivals from their losses earlier this year, it becomes crucial to examine the volatility figures and RSI.
Macroeconomic AnalysisHow Miners Correlated with Precious Metals in March 2017
Leveraged mining funds such as the Direxion Daily Junior 3X Gold Miners (JNUG) and the ProShares Ultra Gold (AGQ) also have significant correlations with their respective precious metals.
Macroeconomic AnalysisMining Stock RSI levels: What the Indicators Suggest
NUGT and AGQ have seen YTD rises of 18.6% and 27.5%, respectively. But the volatility of such mining funds can be higher than that of precious metals.
Company & Industry OverviewsA Look at Silver Miners’ 2016 Commodity Exposure
Commodity exposure In the previous part of this series, we looked at miners’ geographic exposure, which is important to consider due to the geopolitical risks some jurisdictions face. It’s equally important to consider their revenue compositions in terms of commodity exposure. Contribution from silver Silver companies are rarely pure-play miners. For investors considering silver […]
Macroeconomic AnalysisMining Correlation Trends: Key Analysis
Precious metal stocks with higher correlations to their respective metals are often more affected by global indicators.
Macroeconomic AnalysisAnalyzing the Correlation between Silver Prices and Miners
Mining funds such as the iShares MSCI Global Gold Min (RING) and the leveraged ProShares Ultra Gold (AGQ) have also seen significant correlations with their respective precious metals.
Company & Industry OverviewsLooking at Silver Miners after the Federal Reserve’s Rate Hike
Silver miners (SIL) are usually a levered play on gold. Notably, silver has outperformed gold year-to-date.
Macroeconomic AnalysisReading Mining Companies’ Volatilities and RSI Levels
Mining companies’ volatilities are significant to the buying process. The mining shares we’ve selected in this article are Kinross Gold, Eldorado Gold, IAMGOLD, and Harmony Gold.
Macroeconomic AnalysisAnalyzing Mining Stocks’ Volatility
As of March 15, the volatilities of Silver Wheaton, AngloGold Ashanti, Hecla Mining, and Kinross Gold were 38.2%, 36.2%, 29.3%, and 40.6%, respectively.
Macroeconomic AnalysisAre Miners Rebounding from Last Week’s Slump?
Monitoring the implied volatilities of large mining stocks is important. We should also watch their RSI (relative strength index) levels, particularly in the wake of changing precious metals prices.
Macroeconomic AnalysisMiners and their Volatility Numbers and RSI Levels
Precious metal mining stocks closely track precious metals. Precious metal leveraged funds have fallen recently due to the slump in precious metals.
Macroeconomic AnalysisHow Precious Metals Have Performed amid Volatility
Precious metal mining stocks are known to closely track the performances of precious metals.
Macroeconomic AnalysisMining Stocks: An Upward or Downward Correlation to Gold?
Agnico-Eagle Mines has the highest correlation to gold year-to-date. Primero Mining is the least correlated to gold.
Macroeconomic AnalysisAnalyzing the Upward-Downward Correlation of Precious Metals
Mining companies with high correlations to gold include Randgold Resources (GOLD), Yamana Gold (AUY), Pan American Silver (PAAS), and Coeur Mining (CDE).
Macroeconomic AnalysisReading the Correlation Movement of Mining Stocks
Sibanye Gold has the closest correlation to gold on a YTD basis among the four miners under review.
Macroeconomic AnalysisHow Miners’ Correlations Are Moving
Precious metals prices have risen from the ten-month lows they saw in December 2016. As a result, most mining stocks have also risen substantially.
Macroeconomic AnalysisA Look at the Correlations of Mining Stocks
Yamana Gold has the closest correlation to gold on a YTD basis among the four miners under review.
Macroeconomic AnalysisAnalyzing the Volatility of Miners in February 2017
Call implied volatility takes into account the changes in an asset’s price due to variations in the price of its call option.
Macroeconomic AnalysisHow Interest Rates Are Impacting Precious Metals
Many of the recent changes in precious metals have been determined by changes in the interest rates offered on US Treasuries.
Macroeconomic AnalysisReading the Volatility Numbers for Mining Stocks
It’s important to monitor the implied volatilities and RSI levels of large mining stocks, particularly in the wake of the changes in precious metal prices.
Macroeconomic AnalysisWhere Are Mining Stocks’ RSI Numbers and Volatility Pointing?
The trailing 30-day returns of most mining companies are positive due to precious metals’ diminishing safe-haven appeal.
Macroeconomic AnalysisReading the Volatility and RSI Levels for Miners
Precious metal mining stocks are known to closely track the performance of their respective precious metals. Mining stocks often show more volatility than metals.
Macroeconomic AnalysisUnderstanding the Correlation of Mining Stocks in 2017
Precious metal prices have been falling since Trump won the US Presidential election on November 8, 2016. Mining stocks quickly followed suit.
Macroeconomic AnalysisVolatility among the Miners in 2017
Sibanye Gold, Gold Fields, Agnico-Eagle Mines, and Pan American Silver had RSI levels of 51.4, 54.6, 59.4, and 58.8, respectively.
Macroeconomic AnalysisGauging Mining Stocks’ Correlation to Gold
Precious metal prices have been falling since Donald Trump won the US Presidential election on November 8, 2016, and mining stocks followed suit.
Macroeconomic AnalysisWhat’s the Correlation between Mining Stocks and Gold?
Mining companies that have high correlations with gold include Agnico Eagle Mines (AEM), Alacer Gold (ASR), Alamos Gold (AGI), and AngloGold Ashanti (AU).
Macroeconomic AnalysisWhat Are Miners’ Volatility and RSI Levels?
Precious-metal-based funds such as the ProShares Ultra Silver (AGQ) and the Direxion Daily Gold Miners (NUGT) have seen a revival in their price during the last month.
Macroeconomic AnalysisWhy Mining Stocks Are Seeing Rising RSI Levels
In this part, we’ll look at the implied volatilities of large mining stocks and their RSI levels in the wake of precious metal prices.
Macroeconomic AnalysisAnalyzing Silver’s January Technicals
Among the other precious metals trading on the COMEX, silver shares for March expiration maintained an almost flat end to the day on January 11, 2017.
Macroeconomic AnalysisHow Mining Stocks Reacted to Plummeting Metals
Mining companies that have high correlations to gold include Royal Gold (RGLD), Goldcorp (GG), New Gold (NGD), and Newmont Mining (NEM).
Company & Industry OverviewsWhich Silver Miners Offer Diversified Exposure to Commodities?
For investors considering silver stocks due to their leveraged exposure to silver prices, the higher the company’s revenues derived from silver, the better.
Macroeconomic AnalysisMining Stocks and Gold Correlation in 2016
Precious metal prices have been falling since Donald Trump won the US presidential election on November 8, 2016. As a result, mining stocks have also been falling.
Macroeconomic AnalysisWhat Were Mining Stocks’ Correlations during December?
Precious metals had a great start to 2016. Franco-Nevada’s correlation rose from an ~0.59 three-year correlation to an ~0.63 one-year correlation.
Macroeconomic AnalysisAnalyzing Mining Stocks’ Correlation in 2016
Mining companies that have high correlations with gold include Buenaventura (BVN), AngloGold Ashanti (AU), Hecla Mining (HL), and Kinross Gold (KGC).
Macroeconomic AnalysisHow Economic Numbers Are Affecting Gold and Miners
The New Home Sales figure stood at 592,000, higher than the expectation of 575,000. The higher sales were likely due to the better forecast for the economy.
Macroeconomic AnalysisAnalyzing Upward and Downward Correlations among Miners
Precious metals had a great start to 2016, but they’ve been falling since Donald Trump won the US presidential election. As a result, mining stocks have also been falling.
Macroeconomic AnalysisHow Are Miners and Gold Correlated?
The substantial returns of most mining companies have been due to safe-haven bids that boosted gold and other precious metals.
Macroeconomic AnalysisReading the Correlation of the Mining Stocks
Mining stocks and gold Although precious metals were doing well at the beginning of 2016, it’s important to know which mining stocks overperformed and underperformed precious metals. Precious metal prices have been falling since Donald Trump won the US presidential election on November 8, 2016. As a result, mining stocks have also been falling. Mining […]
Company & Industry OverviewsWhat’s in Store for Silver Miners after the Fed’s Rate Hike?
Silver miners have shown a significant correlation to gold prices, at 0.84 from the start of 2013 to December 14, 2016.
Macroeconomic AnalysisWhich Mining Stocks Have Highest Correlation to Gold?
Mining companies that have high correlations with gold include Cia de Minas Buenaventura (BVN), AngloGold Ashanti (AU), Hecla Mining (HL), and Kinross Gold (KGC).
Macroeconomic AnalysisCommercial and Non-Commercial Positions in Silver Are Falling
Silver-based mining funds like the Global X Silver Miners Fund (SIL) have been negatively impacted by the drop in silver prices.
Macroeconomic AnalysisExploring the Correlations of Mining Stocks
Precious metals were doing well at the beginning of 2016. It’s important to know which mining stocks overperformed and which underperformed precious metals.
Macroeconomic AnalysisMiners’ Upstream and Downstream Correlation
Kinross and Hecla saw their correlations with gold rise. Kinross’s correlation rose from an ~0.55 three-year correlation to an ~0.61 one-year correlation.
Macroeconomic AnalysisWhich Mining Stocks Have Strongest Correlations with Gold?
Leveraged mining funds such as the Direxion Daily Junior Gold Miners Bull 3X ETF (JNUG) and the ProShares Ultra Silver (AGQ) have fallen due to the decline in precious metals.
Macroeconomic AnalysisWhich Mining Stocks Are Strongly Correlated to Gold?
Mining companies that have high correlations with gold include Cia De Minas Buenaventura (BVN), AngloGold Ashanti (AU), Hecla Mining (HL), and Kinross Gold (KGC).
Macroeconomic AnalysisMiners and Their Upstream or Downstream Correlations to Gold
Precious metal prices have been falling since Donald Trump won the US presidential election on November 8, 2016. As a result, mining stocks have also been falling.
Macroeconomic AnalysisReading the Trends in Miner Correlations
Randgold is the most correlated with gold on a YTD basis among the four stocks under review. Primero Mining is the least correlated with gold.
Macroeconomic AnalysisWhich Mining Stock Is Most Correlated to Gold?
Mining companies that have high correlations with gold include Sibanye Gold (SBGL), Gold Fields (GFI), Silver Wheaton (SLW), and Franco-Nevada (FNV).
Macroeconomic AnalysisReading the Upstream and Downstream Correlations of Mining Stocks
Randgold is the most correlated with gold on a YTD basis among our four mining companies. Primero Mining is the least correlated with gold, mainly due to its YTD losses.
Macroeconomic AnalysisUnderstanding the Correlation of Mining Stocks
Precious metals started 2016 with good news. But which mining stocks have overperformed and which are underperforming precious metals?
Macroeconomic AnalysisReading the Upstream and Downstream Correlation of Mining Stocks
Precious metal prices have been falling since Donald Trump won the US presidential election. As a result, mining stocks have also been falling.
Macroeconomic AnalysisAnalyzing the Correlation of Mining Stocks
Mining companies that have high correlations with gold include Alamos Gold (AGI), First Majestic Silver (AG), B2Gold (BTG), and Royal Gold (RGLD).
Macroeconomic AnalysisAnalyzing Miners’ Correlation with Gold
Mining companies and gold Precious metals saw some good news as 2016 started. However, it’s important to know which mining stocks are overperforming and which are underperforming precious metals. Lately, precious metal prices have been falling slowly. As a result, mining stocks have also fallen. Mining companies that have a high correlation with gold include Yamana […]
Macroeconomic AnalysisAnalyzing Mining Stocks’ Correlation with Gold
Mining companies that have high correlations with gold include Sibanye Gold (SBGL), Gold Fields (GFI), Silver Wheaton (SLW), and Franco-Nevada (FNV).
Macroeconomic AnalysisHow Do Mining Stocks Correlate to Gold?
Precious metals saw some good news as 2016 started. However, it’s important to know which mining stocks are overperforming and which are underperforming precious metals.
Macroeconomic AnalysisIs the Correlation of Mining Stocks Moving Up or Down?
Precious metals saw some good news at the beginning of 2016. However, lately, precious metals prices have been falling slowly. As a result, mining stocks have also fallen.
Macroeconomic AnalysisWhich Miners Have a Rising Correlation to Gold?
The substantial returns for most mining companies have been due to safe-haven bids that boosted gold and other precious metals.
Macroeconomic AnalysisWhat’s the Correlation between Gold Miners and Gold?
Mining companies that have high correlations with gold include Alamos Gold (AGI), First Majestic Silver (AG), B2Gold (BTG), and Royal Gold (RGLD).
Macroeconomic AnalysisReading the Correlation of Miners to Gold
About 61.0% of the time, Kinross Gold has moved in the same direction as gold in the past year.
Macroeconomic AnalysisWhich Miners Have a Strong Correlation to Gold?
Mining companies that have high correlations with gold include Primero Mining (PPP), Silver Wheaton (SLW), Franco-Nevada (FNV), and RandGold Resources (GOLD). These companies have risen significantly year-to-date.
Macroeconomic AnalysisWhy Are Giant Miners Suffering, and Can They Rebound?
During times of global and economic turbulence, volatility is higher than during a stagnant economy.
Basic MaterialsWhy Is McEwen so Optimistic about Gold?
Robert McEwen foresees that gold will increase to about 44% by the end of 2016 and confirms a possible price range of $1,700–$1,900 per ounce.
Macroeconomic Analysis How Has the US Dollar Affected Platinum Prices?
The current weakness in the rand made it fall to all-time lows against the US dollar in early 2016 but has helped mining companies.
Macroeconomic AnalysisWhat You Can Learn by Reading Gold and Silver Technicals
Gold’s price rally on September 6, 2016, was the biggest increase in the precious metal since June. July and August were disappointing for precious metals.