|Bid||620.25 x 0|
|Ask||620.25 x 0|
|Day's Range||620.25 - 620.25|
|52 Week Range||620.25 - 620.25|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
In this part of our series, we’ll be looking at the correlation between gold and four mining stocks: New Gold (NGD), Newmont Mining (NEM), Franco-Nevada (FNV), and Randgold Resources (GOLD). Mining stocks mostly move with gold prices but not always. Mining stocks have high correlations with gold. The Global X Silver Miners ETF (SIL) and the Sprott Gold Miners (SGDM) also tend to have strong correlations with gold.
The International Monetary Fund (or IMF) issued an update to its world economic outlook on the eve of IMF and World Bank meetings in Washington this week. The IMF warned that a major trade rift between the US and China could threaten global economic growth, which otherwise should rise solidly this year. The agency still maintained its forecast of 3.9% for global economic growth, which would be the fastest rate of growth since 2011.
Gold prices rose ~3% year-to-date (or YTD) after rising ~13% in 2017. Gold prices are affected by a number of factors, including rate hike expectations, trade war fears, the US dollar, and increasing volatility.
The government of new Peruvian President Martin Vizcarra said on Wednesday it would not "impose" mining projects on nearby communities that object to them, but would seek to promote mining investments to take advantage of improved mineral prices. In the past decade, Southern Copper Corp and Newmont Mining Corp have shelved proposed mines in Peru because of opposition from communities worried about the environmental impact - one of the biggest hurdles to building mines in the world's No. 2 copper producer. Peruvian Prime Minister Cesar Villanueva said the government would encourage mining but only approve projects that respect the environment and have support from communities.
Geopolitical risk has been one of the major drivers for equity markets and commodities lately. In the latest development, the US, France, and the United Kingdom launched military strikes on Syria over the weekend. Since the strikes were surgical and the pullback was prompt, risk assets haven’t seen much impact from the strikes yet. However, another round of strikes or Russian retaliation could put the markets in risk-off mode.
Increase in profitability and industry-beating performance can be essential considerations in a stock for some investors. In this article, I will take a look at Newmont Mining Corporation’s (NYSE:NEM) trackRead More...
Gold soared to two-year highs this week as uncertainty rattles the market. The bull run isn't over yet, says one strategist.
In 1Q18, gold prices (GLD) rose by just 1%. While gold prices have repercussions on gold miners’ performance based on their leverage, most miners’ price movements in 1Q18 have been driven by company-specific factors such as the release of 2017 results, reserves, and 2018 guidance. Among senior gold miners, analysts are most bullish on Goldcorp (GG), assigning it 65% “buy” and 5% “sell” ratings.
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.
Stocks that moved substantially or traded heavily Wednesday: Analogic Inc., down $12.70 to $83.35 The medical and security imaging equipment maker agreed to be bought for $84 a share, less than investors ...
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.
Usually, precious metal mining companies closely follow precious metals. All four precious metals except platinum saw their prices rise on Tuesday, April 10, 2018.
On April 9, 2018, Kinross Gold (KGC) said in a press release that “its mining operations in Russia continue to operate according to plan and remain unaffected by the new sanctions announced by the United States on April 6, 2018.” The company also mentioned that it’s closely monitoring the sanction legislation in Canada, the US, and Europe to remain in compliance. While Kinross has been caught in an unwanted situation, there isn’t much negative impact expected from the sanctions to Kinross’s operations. The stock price reaction can probably be considered an overreaction, as everything related to Russia saw sell-offs yesterday.
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.
Usually, precious metal mining companies are closely related to movements in precious metals. Gold, platinum, and palladium had a down-day on Thursday, April 5, whereas silver had an up-day. Most mining companies followed the trend in silver, while a few turned downward.
Operations restarted at Newmont Mining Corp's two gold mines in Ghana on Monday, a company spokesman said, after they were shut down on Saturday following an accident in which six construction workers ...
In this article, we’ll discuss analysts’ ratings and recommendations for Barrick Gold (ABX) and Newmont Mining (NEM). Of the 24 analysts covering Barrick Gold, 25.0% recommended a “buy” for the stock, the lowest percentage of “buy” recommendations among the senior miner stocks (GDX). Newmont Mining has “buy” ratings from 56.0% of the 18 analysts covering it.
•...explain why Twitter's (TWTR) acquisition of streaming rights for Major League Soccer is a bigger deal than it looks in the View From Silicon Valley. Stocks are rising this morning on continued strength following last week's "Goldilocks" payrolls report. Nasdaq Composite futures have gained 0.4%.
Newmont Mining Corp (NEM.N) laid out plans on Thursday for new projects to grow gold production and cut costs, while reporting market-beating profits and output forecasts that position it to take the title of world's largest bullion producer in 2018. Newmont, whose 2017 production slightly lagged industry leader Barrick Gold (ABX.TO), boosted its 2018 capital budget by $300 million, to $1.2-$1.3 billion, after approving a power project at an Australian mine and expansion of a joint venture mine in Nevada. Chief Executive Gary Goldberg said Newmont's efforts to attract a broader investor base, by sweetening its dividend and focusing on shareholder returns, is drawing increased interest from generalist investors.
Barrick Gold on Thursday predicted ongoing gold production declines in the long term, positioning the miner to lose its status as the world's biggest bullion producer, but it said key projects could boost ...
Among the companies with shares expected to trade actively in Thursday's session are Ford, Roku, Goldman Sachs, Newell Brands and Chesapeake Energy.