I only follow IAG, HMY & ANV. Relative outperformace from IAG, especially in relation to ANV, which was expected. I expect this to relative outperformance to continue throughout the slide in POG. Anyone got any comments on HMY and/or ANV?
I like ANV but they have some big LT debt. They also have some harder rock to crush going forward. If gold gets above 1500, ANV will be off like a rocket. IAG's international (Africa and South America) exposure will keep its upside a bit more muted. I expect gold prices to be much higher by the fall.
I do recall the LT debt of around 0.5B with not much cash but all mines are in US if I recall correctly. I think there is only one in operation at the moment though. I'm interested at current PPS but I still think IAG is a much better value play and quite a bit safer.
Since the December low in POG, ANV and HMY have absolutely murdered IAG as far as percentage return off the bottom. ANV more than doubled at one point and HMY still remains firmly off its bottom. We are a mere 10% drop from hitting the bottom again.
After selling half my stake back when the 2014 production estimates were released, I purchased yesterday at 3.63 and today at 3.50 for the first time, trying to build the position back up, but the current action looks absolutely brutal. When was the last time this freakin company released positive material news? It's ridiculous already.
HMY, I believe, is stronger than ANV. Yes, HMY has performed incredibly well during the surge in POG and it's hanging in there fairly well, holding on to most gains. I recall it trading around 2.50 not long ago. I know that they have been benefiting from exchange rates against, I think, SA Rand and they also put out some fairly decent forward guidance on production. I think HMY is seen as something happening right now and IAG is potential in the future. WS have a very short timeline.
Yes, it is a shame IAG is so close to 52 week lows with gold at $1,300 no less! Imagine if gold trades back to $1,200 where will it be then? I have continued to buy and have been getting hammered thinking gold could hit $1,400 in the near term was a big mistake of mine.
I agree, when (other than some concessions from a mine in Africa) will there be company specific good news to reverse this madness in selling? It seems the combination of the Westwood delay by 6 months along with the dividend cut to zero have done serious damage as IAG has significantly underperformed GDX since late last year.