8.18 +0.05 (0.62%)
After hours: 7:58PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.11 - 8.81|
|52 Week Range||6.71 - 9.98|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 24, 2018 - Apr 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||10.25|
NEW YORK, NY / ACCESSWIRE / April 26, 2018 / Coeur Mining, Inc. (NYSE: CDE ) will be discussing their earnings results in their Q1 Earnings Call to be held on April 26, 2018 at 11:00 AM Eastern Time. To ...
On a per-share basis, the Chicago-based company said it had net income of 1 cent. Earnings, adjusted to account for discontinued operations and non-recurring gains, were less than 1 cent on a per-share ...
Coeur Mining, Inc. today filed a NI 43-101 Technical Report for its Kensington gold mine in Alaska, which reflects a 25% increase in proven and probable reserves to 620,700 ounces and a 10% increase in average reserve grade to 0.21 ounces per ton , or 7.2 grams per tonne , compared to year-end 2016 reserves.
Usually, precious metal mining companies follow precious metals. Precious metals have risen over the past few days, supporting mining companies.
Recent market unrest had a significant effect on precious metals, which increased. However, the US dollar has strengthened recently, which has had a negative impact on precious metals. The settling of the market unrest could have also caused a withdrawal of haven bids.
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.
IAMGOLD (IAG) was the best-performing gold stock of 2017, returning 51.4% for the year. It significantly outperformed the VanEck Vectors Gold Miners ETF (GDX) as well as the SPDR Gold Shares (GLD). In 2018, however, the equation has somewhat reversed. Its stock has returned -4.5% year-to-date as of April 17.
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).
In this part of our series, we’ll look at the correlation between gold and four mining stocks: Franco-Nevada (FNV), Coeur Mining (CDE), Kinross Gold (KGC), and Eldorado Gold (EGO). Mining stocks mostly move with gold prices, but not always. Among these four miners, Kinross has shown the highest correlation with gold this year, while Eldorado Gold has seen a negative correlation.
Overall, gold has been rising in 2018, mainly due to the geopolitical tensions that keep increasing. First, we had fears of a US-China trade war, and now we have the Syrian chemical attack and subsequent air strikes. Another crucial element is the decline of the US dollar, which we’ll look at in the next part of this series.
Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on February 16. Over the last one-month, outflows of investor capital in ETFs holding CDE totaled $292 million.
April 11, 2018, marked the fourth straight day of a rise in gold’s price. Gold rose 1.1% on the day and closed at $1,356.5 per ounce. The volatility reading in gold stood at 13%, a little higher than the previous day’s reading. Gold’s RSI (relative strength index) level also jumped to 61.
In this part of our series, we’ll look at the correlation between gold and four mining stocks: Coeur Mining (CDE), Barrick Gold (ABX), Kinross Gold (KGC), and Eldorado Gold (EGO). Mining stocks mostly move with gold prices but not always. Among these four miners, Kinross Gold has shown the highest correlation with gold, while Eldorado Gold has seen a negative correlation to gold on a YTD (year-to-date) basis.
In this part of our series, we’ll look at the correlation between gold and four mining stocks: Franco-Nevada (FNV), Coeur Mining (CDE), Cia De Minas Buenaventura (BVN), and Hecla Mining (HL). Mining stocks mostly move with gold prices but not always. Among these four miners under discussion, Cia De Minas has shown the highest correlation with gold, while Hecla has the lowest correlation to gold on a YTD (or year-to-date) basis.
Palladium has been the weakest performer among the four precious metals on a YTD (year-to-date) basis. Palladium is more inclined toward its industrial side than its use as a precious metal due to its many industrial uses. Palladium is used as a catalyst in diesel-based engines.
Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on February 16. Index (PMI) data, output in the Basic Materials sector is rising.
Coeur Mining, Inc. today announced first quarter 2018 production of 3.2 million ounces of silver and 85,383 ounces of gold, or 8.3 million silver equivalent1 ounces.
Among the four precious metals that we’ll be discussing in this series, only gold saw gains on Wednesday, April 4. Gold prices for April futures were up 0.23% and closed at $1,335.8 an ounce. Platinum was down 1.4% and was the biggest loser among the four precious metals.
The US equity market has been on an upward trend since the US presidential election in November 2016. The equity market’s valuation is also high compared to its historical average. Moreover, the bull run by the equity markets in 2017 was accompanied by very low volatility. The equity markets dropped again on March 23, 2018, on trade war fears as the Trump administration talked about imposing additional tariffs on Chinese imports.
Uncertainty or volatility in the markets is increasing. The markets are adjusting for the high volatility phase after a prolonged period of low volatility across markets. The most recent issue fueling volatility is the fear of a trade war.