27.87 -0.10 (-0.36%)
After hours: 7:36PM EDT
|Bid||27.77 x 900|
|Ask||27.87 x 2000|
|Day's Range||27.08 - 28.39|
|52 Week Range||21.25 - 44.03|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.90%|
While gold miners have been out of favor for a long time, that might be about to change. Since the uncertainty in the market is increasing, gold prices are poised to rise. This rise should be followed by gold miners (GDX), which are essentially a leveraged play on gold prices.
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 ...
Newmont Mining (NEM) stock rose 2.4% in 1Q18 while Goldcorp (GG) stock rose 4.5%. Newmont Mining reported an earnings beat in 4Q17. The company’s production and unit costs were in line with its guidance.
In its first meeting under new chief Jerome Powell, the US Federal Reserve increased interest rates by a quarter of a point. Markets widely expected the rate hike. New Fed Chairman Jerome Powell believes the US economic outlook has strengthened in recent months.
Among the stocks we’ve discussed throughout this series, Tahoe Resources (TAHO) is trading at the lowest forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of 4.7x. The stock is trading at a huge discount of 60% to its trailing-five-year average. Tahoe Resources’ stock price, as well as analysts’ corresponding estimates, took a severe dive after the Guatemalan government’s decision to suspend its Escobal mine license on July 5, 2017. Its valuation multiple has also fallen 27% since July.
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 ...
Goldcorp’s (GG) gold (GLD) (NUGT) production fell 15% to 646,000 ounces YoY (year-over-year) in 4Q17. Goldcorp has guided for production of 2.5 million ounces in 2018 with a variance of plus or minus 5%, which is in line with its previous 2018 guidance as well as its guidance for 2017. In 4Q17, Barrick Gold (ABX) produced ~1.3 million ounces of gold, a fall of 11.8% YoY.
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 ...
The move to impose tariffs on steel and aluminum could provide support for gold prices as a safe-haven asset as uncertainty rises.
IAMGOLD’s (IAG) Westwood project had a pivotal year in 2017, as it resumed operating at the normal production level in 2Q17. Investors might recall that, during the early stages of the mine’s ramp-up, a seismic event occurred, which left part of the operation in a rehabilitative state for most of 2015. Westwood’s gold production increased 92% YoY (year-over-year) to 125,000 ounces.
Gold miners (GDX)(SGDM) face the problem of compensating for every ounce they take out of the ground. Newmont Mining (NEM) reported flat reserves at the end of 2017 compared to last year. Its reserves came in at 68.5 million ounces for 2017, unchanged from 2016 due to additions and revisions fully replacing the depletion.
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 ...
Goldcorp (GG) has one of the strongest project pipelines in the industry. At Penasquito, the Pyrite Leach Project (or PLP) is 62% complete and expected to start commissioning in 4Q18, which is three months ahead of schedule. This project is expected to add ~1 million ounces of gold and 44 million ounces of silver over the current life of the mine.
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 ...
Could Gold Catch a Bid if Equities Stay Weak in 2018? In Could Gold Be Set for a Big Move in 2018? we discussed these factors in detail. While a weaker US dollar supported gold prices in January 2018, the picture could change going forward, as the dollar has started strengthening on a brighter inflation outlook and a more hawkish Fed stance.
Could Gold Catch a Bid if Equities Stay Weak in 2018? While the Federal Reserve kept interest rates unchanged in its policy meeting in January 2018, it raised its outlook for inflation and flagged “further gradual” rate increases. The Fed cited solid gains in employment, capital investment, and household spending while maintaining its outlook for a strong labor market and moderate growth in the US economy.
While Agnico Eagle Mines (AEM) delivered consistently strong operational results in 2017, its stock performance has lagged behind the gold miners’ benchmark index (GDX). AEM stock rose 10.0% in 2017, compared with the 12.8% gain seen by the SPDR Gold Shares (GLD) and the 11.1% return seen by the VanEck Vectors Gold Miners ETF (GDX). Agnico Eagle Mines has delivered better-than-expected results year-to-date.
Could Gold Be Set for a Big Move in 2018? Previously in this series, we looked at factors that could impact the outlook for gold in 2018. Gold’s recent price rally has supported the view we discussed in Can Gold Repeat Its Rally in the New Year? Some seasonal and fundamental factors have been supporting gold prices since mid-December 2017. Chinese demand ahead of Chinese New Year, weakness in the US dollar, and uncertainty regarding US policies have helped gold prices.
Goldcorp (GG) currently has “buy” ratings from 59% of the 22 analysts covering the stock, as per the consensus compiled by Thomson Reuters. Based on the mean target price and current market price, its stock has a higher upside potential of 29% as compared to its close peers (GDX) (NUGT) Barrick Gold (ABX) and Newmont Mining (NEM). The analyst sentiment seems to be improving for GG’s stock.
Along with 20% improvement in production and costs, Goldcorp (GG) laid out its plan in January 2017 to achieve a 20% increase in reserves by 2021.