|Bid||56.20 x 0|
|Ask||56.25 x 0|
|Day's Range||55.90 - 57.54|
|52 Week Range||48.04 - 68.76|
|PE Ratio (TTM)||53.55|
|Earnings Date||Apr 26, 2018|
|Forward Dividend & Yield||0.55 (0.97%)|
|1y Target Est||54.16|
Unrest in Syria played a role in precious metals rising on Friday, April 13. The day before, Donald Trump discussed how to address a recent Syrian poison gas attack. He threatened missile strikes, which were eventually carried out, on Saturday.
The Fed minutes from its policy meeting on March 20–21 were released on April 11, 2018. In the March meeting minutes, the FOMC (Federal Open Market Committee) staff review of the economy was stronger than the review presented at the January meeting. According to the minutes, all of the FOMC members expected 12-month inflation (TIP) to increase in the coming months.
The Bureau of Labor Statistics released US jobs data for March 2018 on April 6. The job growth was weaker than expected. The US added 103,000 jobs in March as compared to upwardly revised 326,000 jobs the previous month. The economists were expecting an addition of 185,000 jobs in March, as per Bloomberg. While a slowdown was expected in March due to February’s surge underpinned by hiring due to unseasonably warm weather, the decline was more than what the market expected. The unemployment rate has remained at 4.1% for six months. The Fed is forecasting a rate of 3.8% by the end of this year.
Another crucial factor that closely plays on precious metals prices is the US interest rate—more specifically, the Federal Reserve’s decisions on moving the interest rate. During the Fed’s meeting in the third week of March, it took a hawkish stance, causing precious metals to rise instead of fall. The Fed mentioned that it would like to raise interest rates two rather than three more times in 2018.
Usually, precious metals mining companies follow precious metals. When precious metals rose on April 11, 2018, miners followed suit. Most miners saw an up day on April 11, though that may not always be the case.
Yamana Gold (AUY) and Agnico Eagle Mines (AEM) also underperformed the Gold Miners Index (GDX) and gold (GLD) in 1Q18, falling 16.1% and 10.0%, respectively. However, their losses were smaller than those seen by intermediate peers Eldorado Gold (EGO) and New Gold (NGD), which fell 41.7% and 24.3%, respectively, mainly due to issues at several of their mines.
Barrick Gold (ABX) has underperformed senior and intermediate peers (GDX) (GDXJ) as well as the broader benchmark index (GDX). Barrick has guided for production of 4.5 million–5.0 million ounces of gold in 2018, which implies a ~11% fall from the midpoint of its actual production in 2017. Barrick Gold raised its all-in sustaining cost guidance for 2018 to $765–$815 per ounce.
Gold prices rose ~1% in 1Q18 after rising ~13% in 2017. Gold prices are being affected by a number of factors, including rate hike expectations, trade war fears, the US dollar, and increasing volatility.
Kinross Gold (KGC) stock fell 8.7% yesterday in reaction to the fresh US sanctions on entities in Russia (RSX). On April 6, 2018, the US Treasury Department announced new sanctions on a number of Russian security officials, politicians, and oligarchs believed to have close ties to Russian President Vladimir Putin. A senior official of the US Treasury Department maintained that sanctions were “in response to the totality of the Russian government’s ongoing and increasingly brazen pattern of malign activity around the world.” The broader Russian market and Russian ruble came under heavy selling.
SUDBURY, Ontario , April 9, 2018 /PRNewswire/ -- Rail-Veyor Technologies Global Inc. is proud to announce that its Rail-Veyor system is now hauling all the production material at Agnico Eagle Mines Limited's ...
The list of the biggest gold mining companies in the world includes many publicly-traded companies, which can be good investment opportunities for investors seeking to diversify their portfolio and get some exposure to the precious metal. Whether you want to invest in physical gold or one of the biggest gold mining companies in the world, […]
Newmont Mining (NEM) and Barrick Gold (ABX) are among the miners that mistimed their acquisitions to just before precious metal prices (GLD)(SLV) spiraled down. This led to the accumulation of excessive debt without any proportionate increase of earnings capacity. Newmont Mining has reduced its net debt by 83.0% since 2013.
LONDON, UK / ACCESSWIRE / March 28, 2018 / Active-Investors free stock reports for this morning include these Toronto Exchanges' equities from the Metals & Mining industry: Laramide Resources, Agnico Eagle ...
NEW YORK, NY / ACCESSWIRE / March 26, 2018 / Research Driven Investing strives to provide investors with free daily equity research reports analyzing major market events. Take a few minutes to register ...
NEW YORK, March 26, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of ...
Canada's main stock index rose on Friday, led by the materials sector as gold prices surged to a one-month high, a day after the index posted its worst day since September 2016 on fears of a global trade war. Fears of retaliatory trade tariffs sent investors scrambling for safe assets such as gold, lifting stocks of miners Barrick Gold Corp and Goldcorp by more than 2 percent. The financial sector was down nearly 10 points after data showed inflation jumped to a three-year high in February, raising the prospect of an interest rate hike.
Agnico Eagle Provides Notice of Release of First Quarter 2018 Results, Conference Call and Annual Meeting
TORONTO , March 23, 2018 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it will release its first quarter 2018 ...
Stock Monitor: Asanko Gold Post Earnings Reporting LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on Agnico Eagle Mines Ltd (NYSE: AEM ) ("Agnico ...
TORONTO , March 22, 2018 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle") has completed and filed with Canadian securities regulators a National Instrument 43-101 ...