Fri, Dec 19, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Bullion/Gold more

Are the Gold Majors a Buy Again?

Posted on 01 July 2014

Barrick Gold hit $55 per share and is now at $18, a decline of 67%! Likewise, Newmont’s high is $70, and it now trades hands near $25, down 64%. Goldcorp is “only” down 50% and Freeport-McMoRan is down about 40%. Freeport is also a very large copper producer, so that has helped it outperform those other pure-play gold majors.
With many of the majors’ stock prices down by a half to two-thirds, the first question to ask is how much did the underlying gold price decline? From about $1,900/oz. to today’s roughly $1,300/oz., gold is down about 30% from its 2011 peak. Yet, Barrick and Newmont, off by more than 60% each, are down twice as much as the gold price. How could that be?……………………………………….Full Article: Source


 Article link

This post was written by:

VRS - who has written 38538 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031