|Bid||43.96 x 2200|
|Ask||44.06 x 3000|
|Day's Range||42.81 - 44.06|
|52 Week Range||27.80 - 44.06|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||0.75%|
|Beta (5Y Monthly)||0.07|
|Expense Ratio (net)||0.54%|
Stocks, bonds, currencies, and commodity markets traded nearly unchanged during the hours of yesterday's abbreviated session at the New York Stock Exchange. The price of silver and gold were notable exceptions, however, as these markets broke significantly higher. The price of silver rose nearly 2%, while gold increased by 1%.
Precious metals-related exchange traded funds were leading the charge on Monday, with gold prices touching their highest level in six weeks as investors looked to the record rally in the equity markets ...
Small caps started to show their momentum and are trying to catch up with the large cap peers. The Russell 2000 Index hit a new 52-week high.
Gold prices remained steady last Friday following a strong October jobs report and that should benefit mining ETFs, including the VanEck Gold Miners ETF (GDX B+) and the VanEck Vectors Gold Miners ETF (GDXJ B).
Gold prices remained steady last Friday following a strong October jobs report and that should benefit mining ETFs, including the VanEck Gold Miners ETF (GDX) and the VanEck Vectors Gold Miners ETF (GDXJ) . The prognosis is interesting when considering GDXJ jumped more than 4% in October, but the fund traded slightly lower last Friday. Some analysts also argued that precious metals found further support from risks of a global economic slowdown and expectations that the Federal Reserve will implement more interest rate cuts to offset the growth concerns.
Wall Street suffered its worst daily drop since late August and was off to the worst start to a quarter in about a decade with two consecutive days of decline.
In the last 12 months, Kinross Gold Corporation (NYSE:KGC) stock has surged by more than 80%. The upside in KGC stock has been backed by strong fundamental developments. Comparatively, the VanEck Vectors Junior Gold Miners ETF (NYSEArca:GDXJ) is up 52% in the same period. Even after the sharp rally, I believe that the uptrend has just started for KGC.Source: Shutterstock At this point, I am recommending investors accumulate positions in Kinross Gold with an initial investment horizon of 12-24 months.My recommendation on KGC stock is predicated on both industry and company specific factors that back my bullish view. Kinross stock, at a 6.34% weighting, is the largest of 67 holdings in the GDXJ mining stocks portfolio.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bullish on GoldIt is important to understand that movement in gold mining stocks is closely linked to trend in gold prices. It is therefore important to discuss the likely trend for the precious metal before talking about company specific factors.Gold is currently trading at $1,536 and is higher by 20% for year-to-date 2019. The break-out in gold prices has come after nearly five years of sideways-to-lower movement. I believe this was a consolidation zone for gold. Levels of $1,200 to $1,300 an ounce can be considered as a region of strong technical support.I am of the opinion that gold will sustain at higher levels and can potentially break all-time highs in the next 12-24 months.The most important reason for this view is global economic weakness. For August 2019, the manufacturing sector in the United States contracted for the first time in three years. China has also reported lowest GDP growth in almost three decades. Concerns of weak growth and potential recession loom at large even for Europe. Amidst these economic concerns and the ongoing trade war, the precious metal is likely to outperform. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off Consider the following three factors:The U.S. is already pursuing expansionary monetary policy and as money supply increases, the dollar is likely to trend lower. This is positive for gold.With economic concerns, there is increasing risk-off trade and investors seek to go overweight on Treasuries and gold. The precious metal is likely to see higher investment demand.Central banks of Russia and China have been aggressively buying gold to diversify reserves. With weak economic growth, expansionary monetary policies and geo-political tensions, demand for gold from central banks will sustain.In sum, the global economic scenario is perfect for gold to trend higher after prolonged consolidation. Kinross Gold stock will move in-sync with gold prices. EBITDA Margin Expansion and Cash Flow GrowthFor the second quarter of 2019, KGC reported average realized gold price of $1,307 an ounce. For the same period, the all-in-sustaining-cost (AISC) was $918 an ounce. This translated into an adjusted operating cash flow of $287.7 million for the quarter.With gold already at $1,530 an ounce, the realized price will significantly increase in the coming quarters with the AISC remaining largely the same. The positive implication is EBITDA margin expansion and growth in operating cash flows.If gold sustains above $1,500 an ounce (very likely), annualized operating cash flow can be in the region of $1.5 to $1.8 billion. As Kinross Gold Corporation generates positive free cash flows, the stock is likely to trend higher.From the perspective of AISC, Kinross has agreed to acquire Chulbatkan, a development project. The asset has an indicated resource of approximately 3.9 million ounces of gold. Importantly, the company expects AISC for the project at $550 an ounce.Therefore, as the project commences production in the coming years, the company-wide AISC will decline and EBITDA margin expand.As a matter of fact, Kinross has a relatively attractive AISC for American and Russian assets. The AISC for West Africa is higher. I expect inorganic growth to be focused on assets in Russia and the U.S. Strong Fundamentals for Aggressive GrowthAs gold trends higher, it makes more sense to ramp-up production for higher realized gold price. KGC has the advantage of a strong balance sheet to pursue organic and inorganic growth. * 7 Best Tech Stocks to Buy Right Now As of June 2019, the company had total liquidity buffer of $1.9 billion. With likely expansion in free cash flow in the coming quarters, I expect the liquidity to swell and net debt to decline.In addition, I expect stock re-rating if gold continues to trade above $1,500 an ounce. This re-rating expectation is based on potential dividends as free cash flow swells. Final Words on KGC StockKinross Gold Corporation stock has surged in 2019 with gold trending higher, event in the 17.1% gain for the largest physical gold exchange-traded fund, SPDR Gold Trust (NYSEArca:GLD). The company is also on track to meet 2019 guidance on production and that has kept the KGC stock momentum bullish.The key trigger for sustained stock upside is EBITDA margin expansion and cash flow growth in the coming quarters. In addition, I expect relatively aggressive investments to prop-up production growth in 2020 and 2021.The factors discussed make KGC stock an attractive buy even after the sharp rally. A 5% to 10% correction on profit booking is entirely likely and I see that as an opportunity to accumulate the stock.As of this writing, Faisal Humayun did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post Kinross Gold Corporation Stock Seems Ready for a Long-Term Uptrend appeared first on InvestorPlace.
When global markets are wracked with turmoil, investors often turn to that old standby: Gold, or a gold ETF. Like VanEck Vectors Junior Gold Miner ETF.
Trade has played foul on Wall Street throughout August, sending the broad indices into a tailspin, thus compelling investors to flock to gold as a great store of value and hedge against market turmoil.
Precious metals miner sector-related ETFs rallied on Monday as investors turned to safe-haven plays like gold and silver to stick out the sudden volatility triggered by trade war fears. Among the best ...
Gold miner stocks and sector-related ETFs surged late Thursday as investors turned to the precious metal in the wake of President Donald Trump’s sudden threats of additional tariffs on Chinese goods. The ...
Bulls continued to rage higher in July powered by hopes of easing money policies and positivity surrounding the trade deal. We have highlighted five such ETFs that have accumulated handsome gains in July .