New Gold Inc.
What Could Drive IAMGOLD Corp.’s Valuation Going Forward?
IAG stock could continue to gain traction due to its high operational leverage, at least as long as the upward trend in gold prices continues.
Polyus Gold International: A Russian Mining Giant
Polyus Gold International is the largest gold producer in Russia. It ranks among the top ten gold miners. It produced 1,696,000 ounces of gold in 2014.
Understanding IAMGOLD’s 2Q17 Earnings Highlights
IAMGOLD’s (IAG) 2Q17 production was 223,000 ounces of gold—growth of 26,000 ounces or 13% year-over-year (or YoY).
Do Central Bank Gold Holdings Point to a Bright Future for Gold?
Central banks have been net buyers of gold since the beginning of the financial crisis of 2008.
The Correlations of Miners So Far in 2018
Mining stocks tend to move in accordance with gold prices.
Understanding Miners’ Correlation to Gold
Precious metals mining shares that have high correlations with gold include Royal Gold, GoldCorp, New Gold, and Newmont Mining.
Why Miners Have Outshined Precious Metals
Mining stocks are often known to amplify the returns in precious metals. Small losses for metals can bring exponential losses to metal miners, and vice versa.
New Gold Bulls: Where Are They Now?
New Gold (NGD) stock has had one of the poorest showings YTD (year-to-date).
What Kept a Hold on Gold on September 9?
Gold futures for December expiration fell 0.53% on September 9, 2016. Gold, however, was able to maintain a trailing-five-day gain of 0.46%.
Gold Demand Stays Strong in China
After the $5 billion stock market collapse in China, investors fled to gold. Even a third straight annual decline in prices has failed to make gold lusterless in China.
Did the Fall in the Dollar Boost Precious Metals?
Precious metals saw an upward swing on Tuesday, November 1, 2016. The rise in precious metals was most likely due to the slight fall of the US dollar.
How Did the Bank of Japan’s Decision Play on Gold?
Gold remained in the neutral range of $1,313–$1,319 per ounce as Bank of Japan gave its verdict, keeping the benchmark interest rate unchanged at -0.1%.
What Were the Main Factors in Kinross’s Production Guidance?
For Kinross’s fiscal 2016 production guidance, the grade reduction at the Kupol and Chirano mines was considered.
Behind IAMGOLD’s 1Q17 Results
IAG’s 1Q17 adjusted EPS (earnings per share) of $0.01 beat the market’s expectation of -$0.01.
IAMGOLD Beat 3Q17 Estimates—But Can the Stock Momentum Continue?
IAG reported EPS (earnings per share) of $0.07 for 3Q17, beating the consensus estimate by $0.06. Its revenues missed the estimate by $4.1 million.
Why Gold’s Safe-Haven Demand Remains Tepid
Gold is often touted as the safe-haven asset that investors embrace in times of economic and political uncertainty.
How Mining Stock Volatility Numbers Are Moving Now
First Majestic, New Gold, Agnico, and Silver Wheaton now have RSI scores of 60.5, 56.2, 57.6, 59.6, respectively.
Can AngloGold’s Project Pipeline Provide an Upside to Its Production?
AngloGold Ashanti’s 1Q16 production fell by 7.2% YoY to 861,000 ounces, mainly due to planned reductions at its Obuasi, Tropicana, and Morila mines.
How Does a Negative Interest Rate Policy Affect Gold Investments?
Under a negative interest rate policy, people are charged on their deposits with banks, and banks are charged for their deposits with the central bank.
Which Intermediate Gold Miners Can See Upside in 2017 and Beyond?
Among the intermediate gold miners, Agnico Eagle Mines (AEM) has the highest EV-to-forward-EBITDA multiple of 12.9x.
Analyzing Investors’ Positions in Gold
COMEX non-commercial gold futures contracts, traded by large speculators and hedge funds, totaled 292,000 in the data reported through September 27, 2016.
How Analysts See Iamgold’s Top Performance among Gold Mining Stocks
Of the 13 analysts covering IAG stock, 54% recommend a “buy,” while 46% recommend a “hold.” IAG doesn’t have any “sell” ratings.
Which Intermediate Gold Stock Do Analysts Favor Now?
Intermediate gold miners’ (RING) (GDXJ) stock performances were better than those of senior gold miners in 1H17.
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.
Gold Demand Is Waning: What Investors Can Expect
The outlook for gold demand in India is expected to remain weak due to weaker monsoons and a lack of festivities. This puts pressure of the gold demand.
How Are Analysts Rating Yamana after Its 3Q16 Results?
About 45% of analysts covering AUY have given it a “buy” recommendation. About 45% of analysts have issued a “hold.” Only 9% have issued a “sell.”
Will These Intermediate Gold Equities See a Valuation Upside?
Among intermediate gold miners, Agnico Eagle Mines has the highest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 12.0x.
Australian Miners Hit by Declining Gold Prices, Rising US Dollar
Slumping commodity markets are prompting miners to respond to lower asset prices. Major North American miners including Barrick Gold (ABX) have already put a few mines up for sale.
Analysts on Gold: What’s in Store for the Rest of 2017
It’s always important to watch what analysts are forecasting for gold prices for in short and long terms. This helps investors understand gold’s price outlook.
Eldorado Gold’s Q2 2018 Earnings and Its Issues in Greece
Eldorado Gold (EGO) stock suffered a great deal in 2017 due to the standoff with the Greek government and some technical issues at its mines in Turkey.
What Gold Miners’ Technical Indicators Are Telling Us
While the current rise in precious metal prices has provided a tailwind for miners, for some of them, the gains might be more self-sustained.
Should You Avoid Intermediate Gold Miners with High Leverage?
Intermediate gold miners aren’t far behind senior gold miners in terms of mimicking gold price trends.
Why IAMGOLD Has Climbed the Ranks among Analysts
Currently, IAMGOLD (IAG) has the third-highest number of “buy” recommendations among analysts at 75%.
An Overview of SGGDX’s Precious Metals Holdings
The First Eagle Gold Fund Class A’s (SGGDX) portfolio mainly consists of stocks from the precious metals and mining sector.
How the Economic Sentiment Is Playing on Gold
During the past week, average hourly earnings, excluding the farming industry, were below analysts’ expectation of 0.10%.
How IAG’s Westwood Mine Development Is Coming Along
IAMGOLD’s (IAG) Westwood reported 106% higher production in 3Q17 on a YoY (year-over-year) basis, coming in at 33,000 ounces.
Barrick Gold on the Street: How Analysts Are Reacting to the Quarterly Miss
Barrick Gold has 46.0% “buy” ratings, 46.0% “hold” ratings, and 8.0% “sell” ratings. Its target price implies an upside of 29.0% based on its current price of $16.90.
Gold Miner Stocks: What’s Driving Long-Term Production Growth?
After years of cutting back on sustained capital expenditures, gold miners have started to refocus on production growth as gold prices (GLD) remain buoyant in 2016.
What to Expect from Eldorado Gold’s Q3 Conference Call
Eldorado Gold (EGO) stock lost significantly in 2017 due to the standoff with the Greek government and some technical issues at its mines in Turkey.
Analysts Have a Mixed View of Gold Miners ahead of Q2 Earnings
Among the senior and intermediate miners, Eldorado Gold (EGO) and New Gold (NGD) have the fewest “buy” ratings at 15% each.
What Drove the Earnings Miss for Yamana Gold in 2Q16?
Yamana Gold (AUY) reported 2Q16 EBITDA of $148 million, which is lower than consensus expectations of $167 million.
Gold Remains Subdued: Impact of the Impending Rate Hike
Most of the investor sentiment is weighed towards a looming rate hike by the Fed. Any clear indication towards one this year would also be negative for gold (GLD).
Agnico Eagle Mines Is on Many Analysts’ Wish Lists—Here’s Why
According to the consensus collected by Thomson Reuters, 17 analysts currently cover AEM’s stock, 59% of which recommend a “buy.”
SGGDX’s 2015 Performance: A Peer Comparison
The First Eagle Gold Fund Class A (SGGDX) is an alternative mutual fund that invests more than 80% of its net assets in gold and gold-related companies.
Analyzing Gold Variables: Pressure on Gold Prices
The expectations of Greece defaulting on its payment to the IMF might support gold prices to an extent. However, it will also lead to weakness in the euro.
Do the Decreasing Bullion Prices Have an Increasing Spread?
With a positive outlook for the US economy, there is little hope that precious metals will see a remarkable upward move. The strengthening US dollar is making gold investors jittery.
Why Is AngloGold so Confident in 2H16 after Its Slow Run Rate in 1H16?
AngloGold’s 2Q16 production was 3% higher QoQ at 884,000 ounces. Its 1H16 production was 47% of the midpoint of its annual production guidance.
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.
Gold Surges on Non-Farm Employment Data: Will Gains Be Sustainable?
In the wake of the stabilizing economy, we have seen a downfall in precious metals that has been especially painful for gold investors.
Gold’s Outlook: How Likely Is a Surprise Rate Hike by the Fed?
While the Federal Reserve kept interest rates unchanged in its policy meeting in January 2018, it raised its outlook for inflation and flagged “further gradual” rate increases.
Janet Yellen Shares Views on Rate Hike, Gold Falls to 15-Week Low
Gold and other precious metals plummeted on Friday. Gold, silver, platinum, and palladium fell by 0.54%, 0.42%, 1.4%, and 0.7%, respectively.
How Mining Stocks Performed on July 17
Most mining companies have started rebounding from the losses they saw over the past one week due to the drop in precious metals.
Will Central Banks’ Gold Reserve Holdings Push Gold Higher?
Russia and China have been vocal about adding gold reserves to cut their economies’ dependence on the US dollar.
How Market Uncertainty Affected Gold
The continued turmoil in the markets in 2016 was one of the major determinants of precious metal prices.
A Brief Technical Analysis of the Miners in October 2017
When considering mining stocks, investors should consider crucial indicators like RSI (relative strength index) levels and call implied volatility.
A Look at Mining Stocks’ Moving Averages
Mining stocks rise When investors park money in the precious metal market, it’s important for them to know how mining stocks are performing. In this part of the series, we’ll review the performance of B2Gold (BTG), New Gold (NGD), Newmont Mining (NEM), and Silver Wheaton (SLW), which have risen 20.7%, 19.7%, 16.2%, and 8.7% respectively, year-to-date. […]
Reading the RSI Levels of Miners at the End of November
As of November 24, 2017, Goldcorp, New Gold, Silver Wheaton, and Eldorado Gold had call-implied volatilities of 28.9%, 51.3%, 30.8%, and 50.4%, respectively.
How Miners Are Performing in April amid Less Unrest
All four precious metals except palladium saw a down day on Friday, April 20. That led to a fall in most miners’ prices.
Why Barrick suspended Pascua-Lama operations
This suspension is positive for Barrick. The capital that had been allocated for the development of this project will be used to pay down Barrick’s debt and improve its overall financial condition.
Barrick Gold Misses Q2 2018 Results on Lower Sales, Higher Costs
Barrick Gold (ABX) reported its Q2 2018 earnings yesterday after the market closed. The company reported adjusted EPS of $0.07, which missed analysts’ expectations by $0.04.
Goldcorp Misses Second-Quarter Earnings Estimates
Goldcorp (GG) reported its second-quarter earnings on July 25 after the market closed.
Why Analysts’ Sentiments Are Turning Positive on IAMGOLD
Analysts’ sentiments toward IAMGOLD (IAG) have been changing for the better in the past few months.
Agnico Eagle Mines Posts a Wide Earnings Miss in Q2 2018
Agnico Eagle Mines (AEM) reported its second-quarter earnings on July 25 after the market closed. The company reported an EPS of $0.01.
NEM Breaks Gold Miners’ Jinx with Earnings Beat in Second Quarter
Newmont Mining (NEM) reported its Q2 2018 earnings on July 26 before the market opened.
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.
Goldcorp Stock Plunges 13% on Its Disappointing Q3 Results
Goldcorp (GG) reported its third-quarter earnings results after the market closed on October 24.
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.
Credit Suisse Expects Gold Miners to Follow Gold Higher
Credit Suisse (CS) is positive about gold prices (IAU) in 2019. The bank expects gold prices to average $1,280 per ounce in 2019.
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.
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%.
Yamana and Agnico Eagle: Is There More Upside in 2019?
Yamana Gold (AUY) and Agnico Eagle Mines (AEM) outperformed the Gold Miners Index (GDX) and gold (GLD) in the first quarter of 2019.
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.
Some Bright Spots in Other Dull Intermediate Gold Miner Stocks
Among intermediate gold miners, Agnico Eagle Mines (AEM) has the highest forward EV-to-EBITDA (enterprise value-to-EBITDA) multiple of 10.6x.
The Market Has Restored IAG’s Discount—Is a Turnaround Possible?
Historically, IAMGOLD (IAG) has traded at a lower valuation than its peers.
What Would It Take to Restore Investors’ Confidence in IAMGOLD?
IAMGOLD (IAG) reported its third-quarter earnings results after the market closed on November 6.
Can Yamana Gold Narrow the Valuation Gap More?
Yamana Gold is trading at a forward EV-to-EBITDA multiple of 5.3x. Yamana Gold is trading at a 17% discount to its last five-year average multiple.
Could New Gold’s Q3 2018 Results Decide Its Future?
New Gold plans to announce its third-quarter results after the market closes on October 24, followed by a conference call to discuss the results on October 25.
Analysts Aren’t Bullish on These Gold Stocks before Q3 Earnings
On September 24, Barrick Gold agreed to acquire Randgold Resources (GOLD) in a share-for-share deal.
Can Randgold Acquisition Help Analyst Sentiment for Barrick Gold?
About 77% of analysts have recommended a “hold” for Barrick Gold, and 9% have recommended a “sell.”
Why New Gold Bulls Have Gone Extinct
As of September 24, New Gold (NGD) has fallen 75%, significantly underperforming its peers.
Analysts and Gold Stocks: Five They Love and Five Not So Much
Gold investors have been puzzled by the way gold prices are falling amid ramped-up trade tensions and emerging market crises.
Can Iamgold Catch Up on Valuations after Q2 2018?
IAG stock is currently trading at a forward EV-to-EBITDA multiple of 4.8x, a discount of 27% to its peers.
How Is the Fed Influencing Precious Metal Demand?
The Fed has hinted that there could be two more interest rate hikes this year, for a total of four hikes in 2018.
How the Platinum Markets Are Moving in Relation to Gold
Higher demand for gasoline-powered vehicles over diesel-based vehicles caused a slump in platinum prices.
How the Fed’s Minutes Played on Precious Metals
On May 23, the Fed’s May meeting minutes gave some support to gold prices as the ten-year Treasury note (IEF) yield dropped almost 5.1 basis points to 3.0%.
US-China Tensions Slowly Settle: How Has Gold Been Affected?
Gold prices dropped to a five-month low of $1,281.80 and closed at $1,283.30 per ounce yesterday.
How Are Miners’ Correlations Moving in May?
In this part of the series, we’ll look at the correlation between gold and four mining stocks.
How Are Precious Metals Reacting to Market Volatility?
Besides the rise and fall in the US dollar, another crucial factor affecting precious metals price changes is overall market volatility.
How Mining Stocks Are Reacting to Movement in Precious Metals
New Gold (NGD), Agnico Eagle Mines (AEM), Wheaton Precious Metals (SLW), and IAMGOLD (IAG) have fallen 25.8%, 7.4%, 3.7%, and 2.4%, respectively, year-to-date.
The Correlation of Miners over the Last Few Years
Over the past three years, NGD has seen a declining correlation to gold, while BTG, RGLD, and NEM have seen mixed correlations.
Yamana Gold’s Q1 Results Miss Expectations, Cerro Moro Starts Up
Yamana Gold (AUY) released its 1Q18 earnings yesterday after the market closed. The company missed analysts’ consensus earnings per share estimate.
How Mining Stocks’ Technicals Moved at the End of April
The recent downturn of the metals has had a considerable impact on miners.
Miners’ Correlations and How They’re Moving in April
In this part of our series, we’ll look at the correlation between gold and four mining stocks.
How Have Miners’ Correlations with Gold Been Moving in 2018?
Among these four miners, Newmont has shown the highest correlation to gold, while Franco Nevada has seen the lowest correlation on a YTD (year-to-date) basis.
How Precious Metals and Miners Moving in April?
Precious metals had another up day as gold futures for April expiration rose 0.48% on Friday, April 13, closing at $1,344.80 per ounce.
A Look at Miners’ Volatility in April 2018
The recent unrest in the markets has had a significant effect on precious metals and mining companies.
What Mining Stocks’ Relative Strength Index Tells You
The precious metals and miners were widely expected to react negatively after the Fed decided to hike interest rates.
How Do Miners’ Technicals Look?
It was widely expected that precious metals and miners would react negatively after the FOMC (Federal Open Market Committee) meeting.
Fed Rate Hike and Outlook Priced into Gold Prices: More Upside?
In its first meeting under new Chief Jerome Powell, the US Federal Reserve increased interest rates by a quarter of a point.
How the Lower US Dollar Is Affecting Gold and Miners
On March 23, gold touched a two-week high and closed at $1,349.30 per ounce, and silver ended the day at $16.50 per ounce.