|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||16.83 - 17.03|
|52 Week Range||13.99 - 19.56|
|PE Ratio (TTM)||21.48|
|Forward Dividend & Yield||0.14 (0.82%)|
|1y Target Est||20.32|
The recent unrest in the markets has had a significant effect on precious metals and mining companies. The US dollar has a prominent role in influencing dollar-denominated precious metals and mining stocks.
The past one month has been good for precious metals with the exception of platinum. Gold, silver, and palladium have increased a whopping 3%, 6.4%, and 4.4%, respectively, during the last 30 trading days. Platinum has dropped about 0.97% during the same timeframe.
In this part of our series, we’ll be looking at the correlation between gold and four mining stocks: Alamos Gold (AGI), Sibanye Gold (SBGL), Yamana Gold (AUY), and Pan American Silver (PAAS). Mining stocks mostly move with gold prices but not always. Among these four miners, Pan American Silver has shown the highest correlation to gold, while Alamos Gold has seen the lowest correlation on a YTD (year-to-date) basis.
Short interest is extremely low for PAAS with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting PAAS. The net inflows of $1.18 billion over the last one-month into ETFs that hold PAAS are among the lowest of the last year and appear to be slowing.
The Bureau of Labor Statistics released US jobs data for March 2018 on April 6. The job growth was weaker than expected. The US added 103,000 jobs in March as compared to upwardly revised 326,000 jobs the previous month. The economists were expecting an addition of 185,000 jobs in March, as per Bloomberg. While a slowdown was expected in March due to February’s surge underpinned by hiring due to unseasonably warm weather, the decline was more than what the market expected. The unemployment rate has remained at 4.1% for six months. The Fed is forecasting a rate of 3.8% by the end of this year.
Usually, precious metals mining companies follow precious metals. When precious metals rose on April 11, 2018, miners followed suit. Most miners saw an up day on April 11, though that may not always be the case.
Usually, precious metal mining companies closely follow precious metals. All four precious metals except platinum saw their prices rise on Tuesday, April 10, 2018.
The US dollar, depicted by the DXY Currency Index, was down 0.30% on Monday, April 9. The US dollar and gold tend to be inversely related to each other. The below chart shows the relationship between gold (IAU) (SLV) and the US dollar over the past one month.
Platinum is used in diesel-based generators while palladium is used for gasoline-based engines. The platinum market has been in short supply for the past few years. Since the beginning of 2018, platinum has increased 2.6%. In this part of the series, we’ll focus on the gold-platinum spread, which compares the price performance between these two metals. When analyzing platinum markets, it’s essential to compare the metal’s performance with gold, which is the most crucial of the four precious metals. The comparative performance of gold and platinum can also be analyzed through gold- and platinum-based funds such as the Physical Platinum (PPLT) and SPDR Gold Shares (GLD) ETFs.
NEW YORK, April 09, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of ...
Short interest is extremely low for PAAS with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting PAAS. ETFs that hold PAAS had net inflows of $1.81 billion over the last one-month.
VANCOUVER , March 22, 2018 /PRNewswire/ - Pan American Silver Corp. (NASDAQ: PAAS; TSX: PAAS) (the "Company") has filed its 2017 audited annual financial statements and related management's discussion ...
Pan American Silver (PAAS) stock has outperformed its peers (SIL) as well as silver prices (SLV) YTD (year-to-date). PAAS has fallen 1.4% YTD, and SLV and SIL have fallen 3.8% and 8.1%, respectively, YTD as of March 16, 2018. PAAS’s strong operational performance in 2017 is the major reason behind the stock’s outperformance.
The woes relating to its Guatemalan mine license led Tahoe Resources (TAHO) to underperform significantly in 2017. While a year ago, 86% of the analysts covering TAHO gave it “buy” ratings, currently this amount has halved to 43%. On July 5, 2017, the government of Guatemala decided to revoke Tahoe Resources’ permit to operate its Escobal mine.
Coeur Mining’s (CDE) YTD (year-to-date) operational performance has been strong. Among major silver miners, it has given the highest return and has been the exception, providing positive returns. As we learned in the previous article, the iShares Silver Trust ETF (SLV) has returned -3.8% YTD, and the Global X Silver Miners ETF (SIL) has returned -8.2% in the same period.