|Bid||116.71 x 3200|
|Ask||116.72 x 1400|
|Day's Range||116.33 - 117.25|
|52 Week Range||111.06 - 129.51|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.17|
|Expense Ratio (net)||0.40%|
Yamana Gold (AUY) stock has outperformed its peers (GDX) YTD (year-to-date). Until October 11, the stock has lost 13.1% against Agnico Eagle Mines’ (AEM), Kinross Gold’s (KGC), and IAMGOLD’s (IAG) stock declines of 19.1%, 31.5%, and 32.2%, respectively. AUY’s operational performance has been strong in 2018.
Investing in the yellow metal is often tricky, particularly in turbulent markets. Here’s how investors can play the upside or the downside.
After outperforming its peers in the first half of 2018, Goldcorp’s (GG) stock slumped. Its second-quarter earnings were also a miss on market expectations, as were its first-quarter earnings. Moreover, the overall sentiment on gold and gold stocks turned extremely negative starting April, hurting GG stock as well.
Yesterday, the Federal Reserve released the minutes from its September 25–26 meeting. Read When Will Fed Tightening Start to Hurt the US Economy? for a summary of the Fed’s actions at the meeting and the market’s reaction to them. The meeting minutes were slightly more hawkish than expected, and they signaled that most Fed officials believe that interest rates must continue to rise.
In October, fund managers rotated to energy and material stocks while divesting growth and cyclical stocks. The overweight position in technology stocks declined significantly. As we highlighted in As Tech Leads the Market Decline, What are Investors Eyeing, tech stocks were the frontrunners in the sell-off as they are the same companies that have seen huge upward runs in 2018.
This year started on a lukewarm note for gold and gold miners, and things started worsening after April. Gold prices have failed to draw a bid in 2018 despite many market uncertainties, including trade war tensions, the emerging market (EEM) currency crisis, and other geopolitical concerns.
Technically speaking, the major U.S. benchmarks have reversed from multi-month lows, rising in the wake of an aggressive October downdraft, writes Michael Ashbaugh.
Wall Street’s latest case of the yips finally injected some much needed life into precious metal futures. Gold, silver and platinum have floundered near 52-week lows or worse in the midst of a seemingly unassailable U.S. Dollar and generally stable commodity prices. In the midst of falling stock prices, both the USD and crude have taken a hit, which has prompted some to turn to gold and platinum for value stores while the volatility plays out.
To most Americans, a $21-trillion national debt and a $779-billion federal deficit may seem like they have no impact on day-to-day life. The latest U.S. budget deficit numbers are enough to keep any fiscally minded American up at night. The numbers out of Washington indicate the national debt could rise by $1 trillion in 2019 alone.
Gold, Miners Have Surged on the Market Rout—What’s the Upside? In the current sell-off, technology companies (XLK) (SMH) are leading the decline. Investors’ stretched valuation concerns have been especially acute in the US tech space, meaning that tech stocks are much more vulnerable to higher interest rates.
The International Monetary Fund (or IMF) cut its estimates for global growth for this year and for 2019, citing trade tensions between the US and its trading partners. It now estimates the global growth will come in at 3.7% in 2018 as compared to its previous estimate of 3.9%. The “World Economic Outlook” report is published twice a year, in April and October.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Alexis Christoforous to discuss the latest market moves.