13.81 -0.17 (-1.22%)
Pre-Market: 9:20AM EDT
|Bid||0.00 x 1000|
|Ask||0.00 x 900|
|Day's Range||13.95 - 14.61|
|52 Week Range||11.34 - 25.76|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.94%|
In this part of the series, we’ll analyze mining stocks’ correlation with gold. Gold dominates the four precious metals, and silver, platinum, and palladium are known to closely track its movement.
Can Goldcorp Continue Its Outperformance after a Weak 1Q18? Goldcorp (GG) achieved AISC (all-in sustaining costs) of $810.00 per ounce in 1Q18, which was 1.3% higher YoY (year-over-year) and 6.9% lower sequentially. In line with its expectations for production, the company expects its AISC to remain at the higher end of the guidance range for 2Q18 as well, which should decrease to come in at the lower end of the range in 2H18.
After underperforming its peers in 2017, Goldcorp’s (GG) stock has outperformed YTD (year-to-date). It’s also one of the few major gold stocks to have recorded a positive return YTD performance of 12.5% as of April 17. In comparison, the VanEck Vectors Gold Miners ETF (GDX) has fallen 1.5% while the iShares Gold Trust (GLD) has gained 3.0%. Peers Barrick Gold (ABX), Kinross Gold (KGC), and Agnico Eagle Mines (AEM) have fallen.
The International Monetary Fund (or IMF) also warned that the downside risks to world financial stability have increased over the past six months. In this context, it added, “Valuations of risky assets are still stretched, with some late-stage credit cycle dynamics emerging, reminiscent of the pre-crisis period.” This it believes could lead to the unwinding of risks, leading to higher risk premiums and repricing of risky assets. The IMF’s view of US equity markets is similar to that of Morgan Stanley’s (MS).
The VanEck Vectors Gold Miners ETF (NYSEArca: GDXJ), the second-largest exchange traded fund tracking gold miners equities, is 3.4% over the past week and some market observers believe the small-cap miners ...
The VanEck Vectors Gold Miners ETF (NYSEArca: GDX), the largest exchange traded fund dedicated to gold mining stocks, is essentially flat over the past month, but options traders have recently taken increased ...
After making discretionary cuts on exploration and capital expenditure for many years, gold miners (GDX) (JNUG) have started to refocus on production growth. In the last three years, Newmont Mining (NEM) has built its Merian and Long Canyon mines on time and 20% below budget. The company also sounds confident about finishing its next project, Northwest Exodus, in 2018.
The VanEck Vectors Gold Miners ETF (NYSEArca: GDX), the largest exchange traded fund dedicated to gold mining stocks, is lower by 7% to start 2018, prompting some market observers to say gold miners stocks ...
Amid an uptick in equity market volatility, some traders are seeking refuge in a familiar place: gold. Market participants are also renewing their enthusiasm for some gold miners exchange traded funds ...
The VanEck Vectors Gold Miners ETF (NYSEArca: GDX), the largest exchange traded fund dedicated to gold mining stocks, is once again attracting investors. GDX is comprised of global gold miners, with a ...
As we’ve discussed in previous parts of this series, Barrick Gold (ABX) generated negative returns in 4Q17 and 2017. Goldcorp (GG) also generated negative returns, significantly underperforming the gold miners’ index (GDX) as well as gold prices (GLD). While its performance in 2017 was not up to market expectations, its outlook seems much brighter.
Direxion Shares ETF Trust – Direxion Daily Junior Gold Miners Index Bull 3X Shares (ARCA:JNUG), a USD$0.00 small-cap, is a capital market firm operating in an industry, which has recentlyRead More...
Besides the slump of the US dollar during 2017, the other most important and most talked-about indicator is the US interest rate.
Gold has been in a technical breakout that has rewarded bulls since mid December. The fall in the U.S. Dollar left the door open for this spike. Having said that, there are other ways to still go long gold and using the Direxion Daily Junior Gold Miners Index Bull 3X Shares (NYSEARCA:JNUG) is one of them.
While gold might benefit briefly from the new year rally, a large portion of the remaining performance will depend on the outlook for the US dollar.
The Federal Reserve raised rates yesterday after the conclusion of its FOMC meeting. It signaled three more rate hikes in 2018. Is that realistic? Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss.