Barrick Gold Corporation

OPGSX may also invest up to one-fifth of its portfolio directly into gold or silver bullion and other precious metals.

Gold price’s reversal this year has created opportunities in gold stocks. The SPDR Gold Shares ETF (GLD) had gained 11% year-to-date as of Friday.

Kirkland Lake is first among analysts’ favorite gold stocks with 91% “buy” and 9% “hold” ratings. The target price implies a potential upside of 16%.

Hedge funds increased their net positions in the SPDR Gold Shares ETF during the first quarter.

During DoubleLine’s investor webcast on June 13, Jeffrey Gundlach said, “I am certainly long gold.” His call on gold is based on his expectation that the US dollar (UUP) will finish lower this year.

The Barrick Gold (GOLD) and Randgold Resources combined company intends to achieve sector-leading (GDX) (JNUG) returns.

Many gold miners (RING) are set to release their first-quarter results shortly. Analysts expect Barrick Gold’s (GOLD) EBITDA to rise 6.2% YoY (year-over-year) in the first quarter.

Gold miners usually act as a leveraged play on gold prices. In 2018, the VanEck Vectors Gold Miners ETF (GDX) fell 9.3%, amplifying the 1.9% fall in gold prices (GLD).

In this series, we’ll consider recommendations, target prices, estimates, and potential upsides and downsides for senior gold miners.

Barrick has reduced its debt more than 57% in the last four years from $13.4 billion at the end of 2014 to $5.7 billion at the end of 2018.

Barrick Gold (GOLD) reported AISC of $788 per ounce and a cost of sales of $980 per ounce in the fourth quarter.

When it comes to investing in stocks, Berkshire Hathway’s (BRK.A) chair, Warren Buffett, and Bridgewater’s founder, Ray Dalio, have similar advice.

Newmont Mining (NEM) reported its fourth-quarter earnings results before the market opened on February 21.

Mining stocks tend to take their cues from gold.

SLW, GOLD, ABX, and BVN have call implied volatilities of 30.8%, 23.9%, 24.5%, and 30.8%, respectively.

The US dollar rose 0.18% on Tuesday, January 9, 2018, which led to the lower price of spot gold (GLD) and silver.

Most mining stocks have risen over the past one month due to the revival in gold prices.

Although most of the upswing in precious metals has been due to the rise in geopolitical risks in 2017, the dollar has been the most crucial factor.

Agnico, Randgold, Yamana, and Barrick have call implied volatilities of 24.3%, 21.1%, 38.8%, and 22.8%, respectively.

All four precious metals had an up day on December 20, 2017. Gold increased 0.43% on the day and closed at $1,267.80 per ounce.

In this part of the series, we’ll look at the gold-silver spread, the gold-platinum spread, and the gold-palladium spread.

RGLD, GG, SBGL, and GOLD reported RSI levels of 52.5, 62.7, 49.2, and 81.4, respectively.

Precious metals have been closely associated with the movement of the US dollar over the last few months.

Correlation analysis Mining stocks’ performance usually depends on precious metal prices. Correlation analysis can give investors some perspective on how mining stocks relate to precious metals, especially gold. In this part of our series, we’ll look at four miners—Royal Gold (RGLD), Goldcorp (GG), Franco-Nevada (FNV), and Randgold Resources (GOLD)—and their correlation with gold. On Monday, the ETFS Physical […]

Geopolitical events like the tensions with North Korea helped drive the price of gold higher in September 2017.

Besides the impact of interest rates, there are also other global indicators that could play on precious metals—the most important being the US dollar.

As of October 19, Sibanye Gold, Agnico Eagle Mines, Silver Wheaton, and Randgold Resources had implied volatility readings of 63%, 33.6%, 30.8%, and 25%.

On October 11, 2017, Randgold Resources, Pan American Silver, Barrick Gold, and Kinross Gold had implied volatility readings of 25.0%, 34.0%, 29.1%, and 41.6%, respectively.

Yamana Gold has the highest correlation with gold, while Pan American Silver has the lowest correlation.

Royal Gold’s correlation fell from a three-year correlation of ~0.75 and a year-to-date correlation of ~0.72 with gold.

The platinum industry is now headed for its third-straight year of surplus, likely due to the higher demand for petroleum-based cars.

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).

Though the precious metals survived the Fed’s interest rate hike, the miners took a hit. Most mining stocks saw a considerable down day on Wednesday.

Newmont Mining, Silver Wheaton, Randgold, and Yamana have RSI levels of 45.5, 37.1, 41.2, and 43.0, respectively.

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.

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

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.

Precious metal mining stocks are known to closely track the performances 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).

Gold prices tumbled on Tuesday, February 14, as the US dollar rose after the US Federal Reserve chair, Janet Yellen, seemed optimistic about raising interest rates.

Precious metal prices have been falling since Trump won the US Presidential election on November 8, 2016. Mining stocks quickly followed suit.

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

Gold’s safe haven appeal might lead investors to gold and other precious metals in terms of heightened geopolitical tensions and war.

Gold touched its lowest level on July 24. Its price fell to $1,073.70. Miner ETFs have suffered more than gold prices themselves.