I don't know why they did not issue a press release, but they did seem to have a fairly successful Valentines campaign -- and their relationship with Girl Scout Cookies at this time seems good too. That said, cheaper rent and a 99 cent cupcake are the sort of changes I hope they one day gravitate to. (Or else free black coffee with their $3.99 cupcakes -- or something to that effect.)
Stocks will come with some eventual diution, so expect volatility, yet it seems to be among the better miners to go long and hold.
There is a Mineweb article out today that discusses the verbal wars between Christian and Embry, and the article is largely about the Bundesbank and its gold holdings in the US. Christian's comments on this subject, if true, suggests this story as it is told now by gold bulls is mostly a fabrication. There are reasons to be bullish gold -- but this may not be one of them.
Perhaps more importantly, silver up over 50 cents, and starting to really jump. This would seem to indicate really good things for ANV -- and for miners, in general.
Follow the silver prices. Silver rose one dollar on Friday. It can jump quickly from 21 to 25 before it gets heavy resistance, and that extra four dollars would be major for ANV. I really think Friday's jump was all about the price of silver; the prior, smaller jumps seemed to be just the growing enthusiasm about miners in general, not about ANV -- but if silver keeps rising, ANV will do great...
Given that gold keeps jumping, with some miners in my portfolio jumping 25-30 percent in the last two days, is it possible BAA is already done dropping? It seems to me hedge funds have enough money power to have pushed this stock down to sub-50 cent range, but that so far hasn't happened. Would admittedly be more comfortable buying a lot more shares at 49 cents, but just don't see that price coming again. Curious what others are thinking.
It was just ridiculous for explorers after gold hit $1300. ATAC Resources has almost doubled in 2 weeks. Red Eagle is up over 50 percent in the last week or two also. Right now, it just seems we're invested in the right area at the right time. I lost a fortune (relatively speaking) on miners last year (once I got addicted to them in April), and these first 45 days of this year have been quite the blessing.
Hope it continues on with Belo Sun.
As for the "downgrade", I think even their price target amounted to a double in share price. I'd be cautions once Belo Sun hit 65-70 cents (as it fell as quickly from 90 cents last year as the week it took to climb there from 50 cents), but can see this stock heading up quick as long as gold prices are kind to us for a few more days. Best of luck.
Belo Sun Mining (CVE:BSX) was downgraded by stock analysts at CIBC from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, ARN reports.
Belo Sun Mining (CVE:BSX) traded down 1.08% on Wednesday, hitting $0.46. 27,644 shares of the company’sstock traded hands. Belo Sun Mining has a 1-year low of $0.315 and a 1-year high of $1.44. The stock has a 50-day moving average of $0.39 and a 200-day moving average of $0.47.
A number of other analysts have also recently weighed in on BSX. Analysts at Scotiabank cut their price target on shares of Belo Sun Mining from C$1.25 to C$0.90 in a research note on Friday, November 22nd. They now have an “outperform” rating on the stock. Analysts at Dundee Securities cut their price target on shares of Belo Sun Mining from C$1.00 to C$0.80 in a research note on Tuesday, November 19th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$0.93.
The extended stay at this bottom is obviously good for investors who want to accumulate a position. And I would continue to be very surprised if the Q4 update is not positive and upbeat. I expect their Valentines campaign to generate good revenue for them too.
When silver prices start going up (and they're really underperforming gold, right now), ANV is going to be a great play. And it likely will shoot up right before silver shoots up -- which could be today, who knows?
Until it does, hope people are also investing in other miners too. Explorers that were undervalued are starting to sprint to fair value, and a few similarly bludgeoned producers are finding some favor now too.
ANV seems one of the few still heavily shorted. Agree that will eventually become an asset to the long -- but it's got to be pretty irritating until that day comes.
Many analysts are calling for a pretty good Q1 and Q2 now, and all undervalued stocks (including VGZ) seem to be rising on that belief.
In retrospect, there was no reason to be long miners last year, but it appears this year may be different. Curious how your portfolio is weighted to the mining sector? At about 90 percent, methinks I'm over-weighted, yet it's the 90 percent carrying the portfolio right now.
Congrats to you... I obviously regret not getting in at sub-dollar prices, but would have never foreseen this sort of leap in share price for Gran Colombia.
Miners have definitely been pretty kind to investors this year. Hope it continues.
Up almost 50 percent in the 2 weeks since that article. I feel like I now owe Northern Miner -- which i currently read one free article per week, on every computer in the house -- a subscription.
(Not sure they will come true but) If John Embry's thoughts on silver come true, there will likely be no better miner to hold:
What about the recent reports that JP Morgan might own a record amount of physical silver? 1
That is an interesting story because we believe that JP Morgan is likely the main entity that has suppressed the silver price in the paper market. But now we are hearing that they may have accumulated a large position in the physical metal. To be honest, it is hard to know what to make of it.
The silver price is grotesquely undervalued so I have to congratulate JP Morgan if they are clever enough to sell paper and buy real silver. Before this is over, there is probably going to be a ‘force majeure’ in the paper market because there are so many claims to such a small amount of silver. If that were to occur, people who owned the metal or even exchange-traded products that have a real claim to the metal would be the big winners.
When this comes to light, I think the upside to the silver price will be incredible. My colleague Eric Sprott and I think that within a reasonable timeframe silver will probably trade over 100 dollars – a big move from its current price of 20 dollars an ounce.
Does silver have more upside than gold, in your view?
I think it certainly does – and I know many, such as Jim Sinclair, might disagree with me on this. Some say that silver will always be a peripheral metal to gold, even if gold becomes part of the monetary system again. Silver would be more of an industrial metal than gold.
But looking at historical gold and silver markets, the price ratio of gold to silver – currently over 60:1 – has fallen precipitously in raging bull markets for the metals, going as low as 12:1. So the silver price could have an upwards move at four times the rate of any gold price increase, I believe.
The 8 analysts offering 12 month price targets for Belo Sun Mining Corp. have a median target of 0.75, with a high estimate of 1.75 and a low estimate of 0.50. The median estimate represents a 66.67% increase from the last price of 0.45.
The next earnings announcement is expected on Feb 10, 2014 -- so maybe some updates forthcoming.
At current gold prices, $1 per share is probably the high target for a good definitive feasability report as well as positive environmental studies. But once it's development ready, would expect it to be acquired. The same would likely happen to Continental. For Belo SUn, a $2 PPS would suggest a billion dollar market cap (when you add in the building of mine, etc) placed on it by the miner acquiring it. That's more possible to happen at 1400+ gold in my opinion.