Company Overview and News
It seems precious metals’ rout has also affected precious metal mining companies’ stock prices. In this article, we’ll discuss moving averages, returns, and RSI (relative strength index) scores for Sibanye Gold (SBGL), Franco-Nevada (FNV), Yamana Gold (AUY), and Barrick Gold (ABX), which have fallen 43.1%, 11.1%, 8%, and 8.8%, respectively.
Although the markets have their own logic, highly capitalized gold-mining companies seemingly should belong on any “stocks to buy” list. Thanks to rising geopolitical tensions and soaring trading sentiment, many folks seek safe-haven assets. While gold stocks seemingly offer a viable solution, their overall performance has been unusually disappointing.
Yamana Gold Inc. (AUY - Free Report) declared the first gold and silver production at its Cerro Moro mine located in Santa Cruz province, Argentina. The mine is a high-grade gold and silver operation sourcing ore from a combination of open pit and underground mining. Production ramp up at the mine remains on track and the company expects commercial production in second-quarter 2018. The mine is expected to produce 85,000 ounces of gold this year.
It seems that the rout in precious metals has also plagued the performance of precious metal mining companies. In this article, we’ll discuss Sibanye Gold (SBGL), Gold Fields (GFI), Yamana Gold (AUY), and Pan American Silver (PAAS), which have fallen 40.9%, 15.8%, and 10.3%, respectively. PAAS has risen 12.8% on a YTD basis.
Hedge funds increased their net positions in the SPDR Gold Shares ETF (GLD) during the first quarter. However, all isn’t so rosy for the VanEck Vectors Gold Miners ETF (GDX). During the quarter, GDX’s holdings fell 15.4% sequentially.
After reviving compared to their previous losses, the four precious metals are in negative territory again. The revival of the US dollar had a negative impact on precious metals and mining stocks during the past few weeks. The settling of the market’s unrest could have also caused a withdrawal of haven bids.
Gold ETF investors bought 173.4 tons of gold in 2017, which was 9% higher year-over-year. In 2018 year-to-date, the inflows in gold-backed ETFs have been strong. In times of increased volatility, investors are repositioning their portfolios to include more gold as a volatility hedge. Expectations of a global trade war triggered by President Trump’s import tariffs could lead investors to seek a haven in gold.
NEW YORK, May 15 (Reuters) - * The Toronto Stock Exchange’s S&P/TSX rose 12.20 points, or 0.08 percent, to 16,097.81. * The biggest contributor to the TSX gain was Canadian National Railway Co, with 10.1 net index points. Industrials were the top sector contributor with 13 net points. * Leading the index were Element Fleet Management Corp, up 12.1 percent, Aphria Inc, up 7.5 percent, and Boyd Group Income Fund, higher by 4.
Comex gold futures have a negative weekly chart and weakness is approaching my monthly value level for May at $1,292.7.
Gold trended higher in early April due to trade tensions between the U.S. and China, prospects of airstrikes on Syria, and heightened inflation expectations following a higher than expected March Producers Price Index (PPI)1 and a 2.1% annual rise in the core Consumer Price Index2. Gold topped at $1,365 per ounce on March 11. This level has been the proverbial price ceiling for gold since 2014.
In this final part of the series, we’ll look at the correlation between gold and four mining stocks: Randgold Resources (GOLD), Yamana Gold (AUY), Coeur Mining (CDE), and Barrick Gold (ABX). Mining stocks generally move with gold prices. Among these four miners, Yamana Gold has shown the highest correlation with gold this year, while Randgold has the lowest correlation on a year-to-date basis.
Kinross Gold (KGC) released its 1Q18 results after the market closed on May 8. The company reported EPS (earnings per share) of $0.10, which was double the consensus estimate of $0.05. Its revenue of $897 million also came in above the market’s expectation of $833 million.
IAMGOLD (IAG) reported its 1Q18 results after the market closed on May 7. IAG reported EPS (earnings per share) of $0.09, beating the consensus estimate by $0.08. Its revenues also beat the consensus estimate by $14.0 million, coming in at $314.5 million.
Revenues were up about 11.4% year-over-year to $449.7 million in the quarter but were down 6.1% sequentially. Yamana Gold missed consensus by $0.01.
VAL-D’OR, Québec, May 07, 2018 (GLOBE NEWSWIRE) -- Abitibi Royalties Inc. (TSX-V:RZZ) (“Abitibi Royalties” or the “Company”) is pleased to provide an update on the Company’s net smelter royalties (“NSR”) at the Canadian Malartic Mine, Canada’s largest gold mine, near Val-d’Or, Québec.
2018-05-21 - Asif
Overview Anthera Pharmaceuticals, Inc. is a biopharmaceutical company focused on advancing the development and commercialization of innovative medicines that benefit patients with unmet medical needs. The company currently have two compounds in development, Sollpura and blisibimod. The company licensed Sollpura from Eli Lilly & Co (“Eli Lilly”) in July 2014. Sollpura is a novel non-porcine investigational Pancreatic Enzyme Replacement Therapy (“PERT”) intended for the treatment of patients with Exocrine Pancreatic Insufficiency (“EPI”), often seen in patients with cystic fibrosis and other conditions. The company licensed blisibimod from Amgen, Inc. (“Amgen”) in December 2007. Blisibimod targets B-cell activating factor, or BAFF, which has been shown to be elevated in a variety of B-cell mediated autoimmune diseases, including Immunoglobulin A nephropathy, or IgA nephropathy. Sollpura The exocrine pancreas is responsible for synthesis and secretion of digestive en...
2018-05-21 - Asif
Business Agenus is a clinical-stage immuno-oncology (“I-O”) company dedicated to becoming a leader in the discovery and development of innovative combination therapies and committed to bringing effective medicines to patients with cancer. The company's business is designed to drive success in I-O through speed, innovation, and effective combination therapies. Agenus has assembled fully integrated capabilities from novel target discovery, antibody generation, cell line development, and good manufacturing practice (“GMP”) manufacturing together with a comprehensive portfolio consisting of antibody-based therapeutics, adjuvants and cancer vaccine platforms. The company leverage its immune biology platforms to identify effective combination therapies for development and have developed productive partnerships to advance its innovation. The company believe the next generation of cancer treatment will build on clinically validated antibodies targeting CTLA-4 and PD-1 combined wi...
2018-05-21 - Asif
Business The company started Square in February 2009 to enable businesses (sellers) to accept card payments, an important capability that was previously inaccessible to many businesses. However, sellers also need innovative solutions to thrive, and Square has since expanded to provide additional products and services to give these businesses access to the same tools as large businesses. This approach aligns with its purpose of economic empowerment, as everything the company do should give sellers accessible, affordable tools to grow their businesses and participate in the economy. Square is a cohesive commerce ecosystem that helps its sellers start, run, and grow their businesses. The company combine sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. Square has high seller acceptance rates and fast onboarding, while maintaining low risk and fraud losses as a result of its a...