iShares MSCI Global Gold Miners

Royalty and streaming companies Royalty and streaming companies’ business model differs greatly from that of other precious metal miners (RING), mainly because royalty and streaming companies do not own mines. These companies make upfront payments to gain a right to a fixed percentage of future silver or gold mine production. Additional payments are then made […]

Billionaire investor and bond guru Jeffrey Gundlach also shared his view on bond yields in an interview with CNBC.

As a group, the average gains of North American senior gold miners (GDX) (RING) have been muted.

Although 2017 has not been very good for Newmont Mining stock due to short-term issues, its outlook remains strong.

Royalty and streaming mining companies (RING) (SIL) have business models that are considered quite conservative because they don’t own mines.

All the gold miners (RING)(GDX) we’re covering in this series except for Barrick Gold (ABX) reported earnings beats in 3Q17.

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.

At the end of 2018, Barrick Gold (GOLD) reported mineral reserves of 64.5 million ounces—a decline of 3.4% YoY.

Mining stocks tend to move with gold prices. In this part, we’ll analyze the correlation between gold and four mining stocks.

In this article, we’ll do a technical analysis of a few select mining stocks. When investing in mining stocks, it’s crucial to read their indicators.

Mining stocks tend to take their cues from gold.

AngloGold Ashanti has seen the highest correlation to gold in the past year, while Eldorado Gold has seen the lowest correlation.

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

Most of the mining companies have risen during the past few weeks. The miners tend to move according to precious metal prices rather than the equities market in general.

A gold-silver spread of 77.3 suggests that it requires almost 78 ounces of silver to buy a single ounce of gold.

Newmont Mining’s mean consensus revenue for 2017 is $7.3 billion. This implies year-over-year (or YoY) growth of 8.1%.

As NEM’s all-in sustaining costs (or AISC) have fallen 22.0% since 2012, its FCF has improved by $3.60 per share.

Newmont Mining (NEM) is expecting its newest mines to add production at just $750 per ounce.

A brief analysis of mining stocks is crucial when investors are parking their money in the precious metals market, specifically in mining companies.

In this article, we’ll aim to study the correlations of Yamana Gold (AUY), Pan American Silver (PAAS), Coeur Mining (CDE), and Barrick Gold (ABX) with gold.

If we look at the YTD correlations of the select mining shares to gold, there has been a reasonable fall. On a YTD basis, Sibanye Gold has the least correlation to gold.

If we look at the YTD (year-to-date) correlations of the select mining shares to gold, there has been a reasonable fall.

Gold is the most dominant among the four precious metals. It’s important that investors analyze how miners are moving compared to precious metals.

Gold remains the most dominant among the four precious metals. It’s crucial that investors analyze how the miners are moving versus precious metals.

If we look at the one-year correlation of miners, Barrick Gold has the lowest correlation with gold, while Yamana has the highest.

Mining stocks’ performance usually depends on precious metals’ performance. However, the two can deviate. Correlation analysis can give investors some perspective on how mining stocks relate to gold and silver.

In this part, we’ll concentrate on the technical readings of key mining stocks, including their call implied volatilities and RSI (relative strength index) levels.

The iShares MSCI Global Gold Min (RING) and the VanEck Vectors Junior Gold Miners (GDXJ) have seen YTD (year-to-date) gains of 6.4% and 9%, respectively.

On November 7, Agnico-Eagle Mines (AEM), Yamana Gold (AUY), Hecla Mining (HL), and Harmony Gold (HMY) had implied volatility readings of 33.6%, 48.4%, 36.3%, and 53.3%, respectively.

Kinross Gold’s correlation has risen from a three-year correlation of 0.69 to a one-year correlation of 0.77, which suggests that Kinross has moved in the same direction as gold 77% of the time.

On a YTD (year-to-date) basis, the correlations of the above mining stocks appear to be weak when compared with last year.

Mining stocks’ correlation with precious metals Most of the time, mining stocks’ performance follows that of precious metals. However, they can deviate. Correlational analysis can give investors some insight into how mining stocks relate to gold and silver. In this part of our series, we’ll compare Royal Gold (RGLD), Goldcorp (GG), New Gold (NGD), and Newmont Mining (NEM). Mining […]

The iShares MSCI Global Gold Min (RING) and the Sprott Gold Miners (SGDM) rose with metals on Monday, climbing 1.2% and 0.83%, respectively.

Generating FCF (free cash flow) is very important for miners (GDX)(RING) as it helps them optimize their financial leverages, invest in projects supporting long-term value, and provide shareholder returns.

The iShares MSCI Global Gold Min (RING) and the VanEck Vectors Junior Gold Miners (GDXJ) fell 2.6% and 1.5%, respectively, on October 26.

Barrick Gold (ABX) reported AISC (all-in sustaining costs) of $772 per ounce in 3Q17, which is 10% higher year-over-year and 9% higher sequentially.

Franco-Nevada and Silver Wheaton have seen an upward trend in their correlations with gold.

The iShares MSCI Global Gold Min (RING) and the VanEck Vectors Gold Miners (GDX) have fallen 1.3% and 1.4%, respectively, on a five-day-trailing basis.

Analysts expect Barrick Gold’s (ABX) EBITDA to fall 17% YoY in 3Q17 to $988 million.

Most precious metals had a down day on Tuesday, October 10, despite the recent overall upward movement in precious metals.

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.

Among these four mining stocks, Goldcorp has the lowest correlation with gold on a YTD basis, while Royal Gold (RGLD) has the highest correlation.

Tahoe Resources (TAHO) stock has lost 44.1% of its value year-to-date until the end of September.

Precious metal miners got a boost on Tuesday, October 3, 2017, despite the marginal fall of precious metals.

New Gold has a three-year correlation of 0.67 and a one-year correlation of 0.88 to gold.

Among the four miners that we’re analyzing here, Sibanye Gold has the lowest correlation with gold on a one-year basis, while Gold Fields has the highest.

Many mining stocks saw a revival in prices on Monday, September 25, 2017, since precious metals saw an upswing.

Monday, September 25, 2017, was a day of revival for mining shares as tensions in North Korea resurfaced.

On September 22, 2017, First Majestic Silver, Goldcorp, Newmont Mining, and Silver Wheaton had volatilities of 49.1%, 26.7%, 23.5%, and 30.8%, respectively.

The Tasiast Phase One expansion is expected to increase mill throughput capacity from 8,000 tons per day to 12,000 tons per day.