Part Deux of “The performance of major gold mining companies, February 29th 2016 to date”

By Otto Rock

The first installment of this list came on July 2017 in this post (and for the record, the Feb 29th 2016 date is chosen because that’s the day David Garofalo became CEO of Goldcorpse (GG). So as we’re nearly six months on from that, it’s a quiet Monday and I’m slightly bored with watching my screen and the 2c moves in this’n’that, let’s see how things have progressed since then using the same stocks as before:

Since Feb 29th 2016, the following mining stocks have done this (notes below):

  • Barrick (ABX) up 6%
  • Agnico Eagle (AEM) up 33%
  • Newmont (NEM) up 48%
  • Kinross (KGC) up 47%
  • Franco Nevada (FNV) up 32%
  • Royal Gold (RGLD) up 79%

We can even add these:

  • Gold and Silver Index (XAU) up 35%
  • Precious Metals ETF (GDX) up 21%
  • Gold bullion ETF (GLD) up 6%

And then, this:

  • Goldcorpse (GG) down 6%

Notes

Back in July GG was down 10%, so that’s better. Or less worse. Still crap though and we note the “underweight” called and U$12 target on GG made by Peter Ward of Renaissance Macro Research was indeed hit late last year, so well done to him.

Notable deterioration in ABX, which was up 20% in July 2017 and is now up just 6%. It’s not just GG that’s a crapsville gold name these days.

AEM was 36% in July, now up 33%. Ho hum.

NEM was up 42% in July, now up 48% and motoring on as the world’s number one goldie these days. Definitely the horse to have backed in 2017 among the tier one names.

KGC was up 42%, now up 47% so similar decent performance to NEM.

FNV continues to impress, it was up 21% and it’s now up 32%. The world’s best run precious metals stock.

RGLD was up 84% in July and has slipped a few points, now up 79%. Still darned good for a goldie, though.

As for the indices, not much change in the XAU or GDX, but the gold bullion ETF (GLD) was at +1% in July and is now +6%. In other words, any gold mining stock not up 5% in the last six months is lagging gold.

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