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Could Gold Catch a Bid if Equities Stay Weak in 2018?
What the markets have long been fearing has finally come true, at least in part. The S&P 500 (SPY) (SPX) hit a record high on January 26, 2018. Since then, the index has fallen ~8% as of February 6, 2018.
What’s up with Kinross’s Upgrades?
For Kinross Gold, the analyst recommendations are equally divided between “buy” and “hold” at 44% each, while 11% of the analysts recommend a “hold.”
What Could Affect Goldcorp Stock in 2017?
Goldcorp’s 4Q16 results beat market expectations, mainly due to lower costs and higher gold prices. The market was happy with the company’s results.
How Investor Appetite for Risk Impacts Precious Metals
Gold and silver have seen trailing-five-day losses of 0.9% and 2.7%, respectively. The reason behind the fall in the precious metals is the buoyancy of the equity markets and the gains in the US dollar.
Which Gold Miners Could Grow Their Productions Going Forward?
After making discretionary cuts on exploration and capex for many years, gold miners (GDX) (JNUG) have started to refocus on production growth.
Will Falling Gold Prices Lead to More Carnage for Miners?
Gold continues to trade at its five-year low. It’s hovering in the range of $1,100–$1,150 per ounce. Gold futures on COMEX lost 5.90% on a YTD basis.
Are Gold and Volatility Moving Together?
The rise in precious metals over the last few months has been due to insecurity among investors, given the political climate.
How 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.
Is Jeffrey Gundlach’s Prediction on US Stock Markets Coming True?
On November 20, Jeffrey Gundlach told Reuters that investors haven’t shown an appetite for Treasuries even though US stock markets have fallen.
Strong Equity Markets Pinned Gold Lower
As gold rose initially, the revival in the equity markets shadowed the precious metal. Silver maintained its gains. It’s used as an industrial metal.
What Affected Goldcorp Stock in 1Q17?
Goldcorp’s 4Q16 results beat market expectations mainly due to lower costs and higher gold prices.
The Word on the Street: What Analysts Are Saying about AngloGold Ashanti
About 59% of analysts covering AngloGold Ashanti have issued “buy” recommendations. About 24% of analysts have issued “holds,” and 18% have issued “sells.”
As Gold Miner ETFs Rally, Why Are Gold Prices Headed South?
When gold prices fell by 11% in 2015, GDX amplified that loss by returning -25%. In 2016, GDX amplified gold’s gains positively.
Why Was Gold the Best Performer?
Among the 24 commodities listed on the S&P GSCI (Goldman Sachs Commodity Index), gold has been the best performer. It topped the chart among commodities.
What Are Analysts Recommending Now for AngloGold?
About 59% of analysts covering AngloGold have given it “buy” recommendations. About 24% of analysts have issued “holds,” and 18% have issued “sells.”
Is It a Good Time to Look at Gold?
The SPDR Gold Trust ETF (GLD) has fallen ~8.0% year-to-date and ~11.0% from its April peak.
Could Gold Prices Rise as Market Concerns Increase?
Due to more uncertainty and the positive macro backdrop offered by the Fed, gold prices (IAU) (JNUG) could get another significant boost.
Which Gold Stocks Do Analysts Love and Hate?
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.
What Falling Miner RSI Levels Suggest
The RSI levels of our four select mining giants have all increased lately due to their higher stock prices.
Where Are Gold Prices Headed Next?
There are many factors that support higher gold prices in the medium- to long-term.
Are Equity Markets’ Valuations Stretched?
The International Monetary Fund (or IMF) also warned that the downside risks to the world financial stability have increased over the past six months.
These Factors Could Propel Gold to the $1,400 Mark
In the absence of earnings growth to justify the current valuations of US equities, many investors may begin looking for trade that is less crowded.
Here’s What Could Be Driving the Rating Changes for South African Gold Miners
AngloGold Ashanti (AU) saw its last recommendation change in May 2017, when CIBC downgraded the stock to a “sector perform” rating.
Why Royalty and Streaming Companies Outperformed Peers in 2017
Royalty and streaming companies are quite different than other precious metal miners in terms of business model.
Gold Miners’ Key Valuation Catalysts as 4Q16 Results Draw Near
Valuation for capital-intensive industries The EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple is a good valuation measure for capital-intensive industries. It helps investors compare companies with varying capital structures. Higher multiples The chart above compares gold miners’ EV-to-forward EBITDA multiples and EBITDA margins for 2017. Among North American intermediate gold […]
Watch for These Catalysts in Intermediate Gold Miners’ Q4 Results
Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they’re still generally liquid, unlike their junior counterparts.
The Story behind Bank of America’s Bullish Gold Outlook
Bank of America Merrill Lynch (BAML) is overweight on precious metals going into 2019.
Why Are Intermediate Gold Miners so Exuberant?
Intermediate gold miners are smaller than senior gold miners in terms of production and market capitalization, but they are still generally liquid.
How Are Goldcorp’s Project Pipelines Doing?
Goldcorp (GG) has one of the strongest project pipelines in the industry. It plans to compound returns by focusing on its existing mines with organic growth.
Factors Impacting Analysts’ Earnings Estimates for Gold Miners
Kinross Gold’s (KGC) revenue estimate for 3Q17 is $821 million, implying a sequential fall of 5.5% and a yearly fall of 9.8%.
Gold Falls to $1,062, Even amid Instability after Paris Attacks
On Wednesday, November 18, 2015, gold fell to $1,062 per ounce, the lowest level in almost six years. Silver, platinum, and palladium fell 0.61%, 0.82%, and 2.6%, respectively that day.
The Correlation between Gold and Oil
Oil is widely used in mining exploration, and a surge in oil prices may squeeze miners’ margins, leading to a fall in their share prices.
Why Eldorado Gold Became the Least Impressive Gold Stock
Eldorado Gold (EGO) is one of the few gold stocks that have seen rapidly deteriorating sentiments from analysts in the last year.
Analysts Are Concerned about Kinross Gold’s Geopolitical Issues
Of the analysts covering Kinross Gold (KGC), 42.0% recommended a “buy” and 58.0% recommended a “hold.”
Trump, Trade War, Powell: More Upside for Gold Prices?
Gold hit a fresh six-year high on Friday as trade tensions between the US and China escalated. The SPDR Gold Shares ETF (GLD) closed up 2%.
Gundlach: Fed Has Lost Control—Where Is He Investing?
Amid the trade war, weakening economic indicators, and the yield curve inversion, Jeffrey Gundlach believes the Fed has lost control of interest rates.
Why Jeffrey Gundlach Sees Huge Upside in Gold
Jeffrey Gundlach sees upside potential in gold prices as negative-yielding debt rises worldwide. He sees gold rising to $1,600–$1,700 per ounce.
Bond Yields Sink, Gold ETFs Soar on Rising Recession Fears
Today, bond yields are sinking and stock markets are tanking as markets become fearful of an upcoming recession.
Gold Bucks Commodities’ Downtrend on Trade War Jitters
Gold prices received a boost after President Trump’s tweet that 10% duties would be levied on $300 billion of Chinese goods starting on September 1.
NEM-GG Merger: Newmont’s Special Dividend Announcement
In a press release, Newmont Mining (NEM) said this one-time special dividend will be paid to Newmont shareholders of record as of April 17, 2019.
Which Gold Stocks Could Surprise Markets in Q2?
After the turnaround in gold prices that began at the end of 2018, the fortunes for gold stocks are also looking brighter.
Dalio’s Answer to the End of the Lower-Rate Era Is Gold
Ray Dalio mentioned in a LinkedIn post on Wednesday that it’s important for investors to explore the market paradigm in which they’re currently operating.
Will Gold Miners Soar in the Second Half as Gold Rises?
Gold prices have seen a reversal in the last month or so. The SPDR Gold Shares ETF (GLD) gained 8.0% in June alone.
Why Trump’s Fed Picks Boosted Gold and ETFs
On July 2, President Trump nominated Judy Shelton to the Fed’s board. Shelton is an advocate of the gold standard.
Have Gold’s Fortunes Changed for Good after Hitting $1,400?
After remaining soft for the first five months of the year, gold prices (GLD) have seen a sudden turnaround since the end of May.
Why Wall Street Loves These Five Gold Stocks
Among miners, Eldorado Gold (EGO), New Gold (NGD), IAMGOLD (IAG), and Barrick Gold (GOLD) have seen the highest gains of 50.6%, 44.4%, 40.3%, and 36.4%, respectively.
Gold Breaches $1,400: What’s the Next Stop?
Gold is now trading close to a six-year high following the Fed’s dovish pivot at its June policy meeting. After being range-bound for the last five years, gold has finally broken out and its outlook is bullish.
Gold Prices Surpass $1,400 and Gold ETFs Surge
Gold futures registered their single largest one-day jump of 2.8% on June 20 following the Fed’s dovish stance at its June meeting. While the Fed kept rates unchanged, it hinted at future rate cuts if the conditions warrant them, which sent gold prices soaring.
Why Jeffrey Gundlach Likes Gold
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.
A Perfect Storm for Gold: All Macro Drivers Align
Fed rate cuts Fed policymakers are set to meet on June 18 and 19. Whereas the market has not priced in a rate cut in June, at least two rate cuts are expected by the end of the year. Amid the overall slowdown, US employment had been a bright spot until last month’s jobs report showed fissures may be appearing in the […]
Why Analysts Are Bearish on These Gold Equities
Among senior and intermediate miners (JNUG) (GDX), New Gold (NGD), Barrick Gold (GOLD), Eldorado Gold (EGO), and Kinross Gold (KGC) have the fewest “buy” ratings from analysts, at 0.0%, 16.0%, 38.5%, and 40.0%, respectively.
Checking In on Gold Miners Ahead of Their Q1 2019 Results
Gold prices have fallen 3.6% this year after falling ~1.9% in 2018, significantly underperforming broader markets.
EGO Skyrocketed in Q1—Could This Outperformance Continue?
Eldorado Gold (EGO) significantly outperformed its peers (JNUG) (GDXJ) as well as gold (GLD) in the first quarter with a gain of 60.8%.
Can IAMGOLD Hold On to Positive Wall Street Sentiment in 2019?
IAMGOLD (IAG) comes third, after Wheaton Precious Metals (WPM) and Agnico Eagle Mines (AEM), as far as the most “buy” ratings for gold stocks are concerned.
The Five Gold Stocks Wall Street Is Loving Lately
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).
What’s Affecting Analysts’ Revenue Forecasts for Gold Miners?
In this article, we’ll consider analysts’ estimates for senior gold mining companies’ (GDX) (JNUG) revenues going forward.
Are Slowing Production Pipelines Fueling Gold Miner M&A Activity?
The production growth of most of the miners (GDX) (JNUG) is either in decline or flat at best.
What Would It Take for Analysts to Be More Positive about KGC?
Of the 20 analysts covering Kinross Gold (KGC) as per the consensus compiled by Thomson Reuters, 40% have given it “buy” ratings, and 55% have given it “holds.”
Buffett on Gold: ‘Magical Metal’ Is No Match for ‘American Mettle’
Warren Buffett’s disdain for gold is well known. Once he said, “It doesn’t do anything but sit there and look at you.”
Where Druckenmiller Suggests Investing amid Market Fluctuation
Stanley Druckenmiller shared his views on markets and the economy with Bloomberg TV in December.
Strong Case for Gold over Bonds and Stocks? Bernstein Thinks So
Gold’s price saw its fourth consecutive positive monthly return in January. It rose ~3% in the month after its rise of 4.9% in December.
Analysts Aren’t So Bullish on These Gold Stocks
Among senior and intermediate miners, New Gold, Barrick Gold, Eldorado Gold, and Kinross Gold have the fewest “buy” ratings.
Gold-Backed ETFs Started 2019 on a Positive Note—More Upside?
According to the World Gold Council, holdings in gold-backed ETFs and similar products rose by 69 tons in 2018, equivalent to $3.4 billion worth of inflows.
Which Gold Stocks Are Looking Attractive in 2019?
In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) multiplied that loss by falling 9.3%.
Why Gundlach and Einhorn Are Betting on Gold
Jeffrey Gundlach said during Barron’s 2019 Roundtable that “Gold and commodities broadly should benefit this year.”
Which Five Gold Stocks Are Analysts Loving So Far in 2019?
In 2018, as gold prices (GLD) fell 1.9%, the VanEck Vectors Gold Miners ETF (GDX) amplified that loss by falling 9.3%.
Could the Newmont-Goldcorp Merger Form ‘The Go-To Gold Equity’?
Newmont Mining (NEM) and Goldcorp (GG) held a conference call on January 14 to brief investors and analysts on their merger.
Could the US Dollar Work in Gold’s Favor in 2019?
Like the Fed’s policies, the strong US dollar (UUP) impacted gold prices (GLD) this year.
Why BNP Paribas Sees Gold Dropping Below $1,200 in 2019
Unlike other banks, BNP Paribas has a negative bias for gold going into 2019. Harry Tchilinguirian, global head of commodity markets strategy at BNP Paribas, is negative on gold (SGOL)(GLD).
Bulls versus Bears on Wall Street: Time to Buy Gold in 2019?
For a large part of the year, gold prices (GLD) have languished due to a strong US dollar (UUP), hawkish Fed rate hike outlook, and rising equity markets.
Time to Go Gold? Metal Outshines Risk Assets on Growth Concerns
For most of the year, gold prices (GLD) have languished, thanks to a strong US dollar (UUP), hawkish Fed rate hike outlook, and strength in the equity markets.
Could Market Risks Restore Investor Confidence in Gold in 2019?
As we’ve discussed in this series, market uncertainty is increasing after an unusually calm 2017 and part of 2018.
What an Inverted Yield Curve Means for Gold
The yield curve tracks the yields of Treasury securities maturing at different times. For example, the yield of two-year securities (SHY) is usually lower than that of ten-year securities (IEF)(TLT).
Why the US Dollar Could Be Bullish for Gold in 2019
The US dollar (UUP) has been on an upward trajectory in 2018 so far. Year-to-date, it’s up ~7.4% compared to other major global currencies.
Could Market Risks Restore Investors’ Focus on Gold and Miners?
After a calm period in stock markets, downside risks have increased.
What Factors Are Affecting Revenue Forecasts for Gold Miners?
In this article, we’ll look at analysts’ estimates for those companies’ (GDX) (JNUG) revenues going forward.
Could Gold Rise despite a Strengthening US Dollar?
The US dollar (UUP) has been on a fairly upward trajectory in 2018 thus far.
Why Execution on Growth Projects Will Be Key for IAMGOLD Stock
CEO Steve Letwin stated during IAMGOLD’s third-quarter earnings call that it’s focused on becoming a low-cost producer.
What Could AEM Address during Its Q3 2018 Earnings Call?
By October 17, Agnico Eagle Mines (AEM) has lost 20.3% of its value year-to-date, while the VanEck Vectors Gold Miners ETF (GDX) had fallen 14.3%.
Is US Dollar Outlook Dimming on ‘De-Dollarization’ Concerns?
The US dollar (UUP) has been on a fairly upward trajectory in 2018 thus far.
Could Analysts Change Their Minds on Eldorado Gold?
Eldorado Gold (EGO) stock has seen rapidly deteriorating analyst sentiments in the past year.
Gold Short Positions Still Growing: Short-Squeeze Rebound Ahead?
According to the COT report for the week ended August 24, detailing holdings as of August 21, money managers were net short on gold for the ninth straight week.
Could Unprecedented Short Interest in Gold Mean a Bullish Future?
According to the COT report for the week ended August 10, money managers were net short on gold for the eighth straight week.
Why Speculative Money Positioning Hints at a Gold Rally
According to the COT report for the week ended August 3, money managers were net short on gold for the seventh straight week.
What to Expect from Agnico Eagle Mines’ Q2 2018 Earnings Call
Kinross Gold’s (KGC) Tasiast Expansion could provide an upside to its medium-term production.
A Look at Goldcorp’s 20/20/20 Growth Plan in Q2 2018
Goldcorp has outlined its 20/20/20 growth plan, which aims at improving production, reserves, and unit costs by 20% each by 2021.
Does Speculative Positioning Imply that Gold’s Bottom Is Near?
According to the COT report for the week ended June 26, 2018, money managers were barely net long on gold with just over 4,000 net speculative long contracts.
What Could Support Gold Prices in 2018
So far in this series, we’ve looked at various factors impacting gold’s outlook in 2018. The most recent factor supporting gold prices is the fear of a full-blown trade war.
Why Kinross Gold Is Underperforming Peers after a Strong 2017
Of the analysts covering Kinross Gold (KGC), 47% have recommended “buy” and 53% have recommended “hold.”
Growth Catalysts for IAMGOLD in 2018 and Beyond
IAMGOLD (IAG) has many organic growth opportunities. It’s pursuing expansion opportunities at existing deposits and expects initial resource estimates at Monster Lake, Nelligan, and Eastern Borosi.
Why Gold Miners Haven’t Magnified Gold’s Gains in 2018
Performance-wise, the VanEck Vectors Gold Miners ETF (GDX) and the SPDR Gold Shares ETF (GLD) have diverged this year.
A Look at Recent Analyst Ratings for Kinross Gold
None of the analysts covering Kinross Gold (KGC) recommended a “sell” rating on the stock. 40% of them have “buy” ratings, while 60% suggest a “hold” for the stock.
How Gold Reacted to Interest Rate Hike in December
Besides the slump of the US dollar during 2017, the other most important and most talked-about indicator is the US interest rate.
How the US Dollar Is Expected to Play on Gold Prices in 2018
While gold might benefit briefly from the new year rally, a large portion of the remaining performance will depend on the outlook for the US dollar.
What’s Affecting Revenue Estimates for Senior Gold Miners?
We looked at Wall Street analysts’ ratings for senior miners in the previous part of this series. In this article, we’ll look at analysts’ estimates for gold mining companies’ (GDX)(JNUG) top and bottom lines.
What Could Drive Gold Miners’ Long-Term Production Growth
After discretionary cuts on exploration and capital expenditure, gold miners (GDX)(JNUG) have started to refocus on production growth. We’ll discuss these initiatives in this part of our series.
Analysts’ Reactions to Kinross Gold’s 3Q17 Results
A majority (or 56%) of analysts recommend a “hold” for the stock, while 44% have given it a “buy” rating. There were no “sell” ratings for the stock.
Could Laggards Come Out as Winners?
As with most timeframes in the market, the laggards are a mix of surprising and obvious names (in hindsight, of course). This October, they stand out a little more than usual since so many asset classes are up this year.
Are Gold Miners Besieged by Internal Issues?
Gold has had a solid year so far, up 13.5% through mid-October. And though it peaked in early September at over $1,350 per ounce, it had a quick drop back to $1,261 in early October only to bounce back over $1,300 in mid-October.
Reading 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.