Coeur Mining Inc

Over the past year, silver has been very volatile compared to the other three precious metals. Silver was the highest among precious metals in mid-April 2017.

When analyzing the performance of a metal, investors should look at its fundamentals. In this series, we’ll look at various metrics for silver and other precious metals.

Geopolitical risks had been playing on haven bids for precious metals, but now, we may be seeing to be a temporary respite—however brief—from global worries.

Turbulence in markets due to the viability of the Trump Administration, the upcoming French elections, and the Brexit vote caused precious metals to rise.

Yamana’s correlation with gold has increased from a three-year correlation of ~0.74 to a one-year correlation of ~0.80.

Among the four precious metals, platinum has been the worst-performing precious metal and has seen a year-to-date rise of only 5.8%.

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.

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.

Coeur Mining (CDE) ended 2016 with an outstanding debt of $210.9 million. That’s 57.0% less than at the end of 2015.

Silver has performed slightly better than gold and platinum on a year-to-date basis.

Silver miners (SIL) are usually a levered play on gold. Notably, silver has outperformed gold year-to-date.

Mining companies with high correlations to gold include Randgold Resources (GOLD), Yamana Gold (AUY), Pan American Silver (PAAS), and Coeur Mining (CDE).

Sibanye Gold has the closest correlation to gold on a YTD basis among the four miners under review.

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.

Large speculators and traders continued to reduce their bullish net positions in gold futures markets last week for the eighth consecutive week.

Silver miners have shown a significant correlation to gold prices, at 0.84 from the start of 2013 to December 14, 2016.

Donald Trump’s recent victory is shining a light on the possibility of a rise in inflation and how such a rise could work for gold.

The difference between yields on ten-year US notes and similar-maturity TIPS, a gauge of price expectations, expanded to as much as 1.7% last Tuesday.

Of the ten analysts covering Coeur Mining, 50% have given the stock a “buy” recommendation. The average target price is $14.20 compared to its current price of $15.90.

Friday was important. Gold rose to a two-year high due to additional haven bids on the Brexit referendum.