Gold and silver stocks got clobbered on Thursday as prices of precious metals tanked. Here’s how some of the worst performers were faring as of noon EDT.
Coeur Mining (NYSE:CDE): down 13.5%. Hecla Mining (NYSE:HL): down 9%. Sibanye-Stillwater (NYSE:SBSW): down 10.2%. Endeavour Silver(NYSE:EXK): down 8.5%.
It looks like just one of those bad days for gold and silver, but here’s what you should really make of this drop.
Because precious metals, particularly gold, are considered a safe haven asset against economic uncertainties, their prices are particularly vulnerable to economic data.
On Thursday, the Commerce Department reported a surprising 0.7% growth in retail sales in August versus expectations of a decline, signaling strong consumer sentiment despite rising delta variant coronavirus cases. With the Philadelphia Federal Reserve also reporting strong manufacturing activity and optimism among firms surveyed about the coming six months, the market believes the Federal Reserve could increase interest rates sooner than expected. That boosted the U.S. dollar today and sent gold and silver prices crashing, as their prices and the value of the dollar have an inverse relationship.
Hot Gold Stocks For 2022: Northgate Minerals Corporation(NXG)
Northgate Minerals Corporation, together with its subsidiaries, engages in exploring, developing, processing, and mining gold and copper deposits in Canada and Australia. Its principal producing assets include 100% interests in the Fosterville and Stawell Gold mines in Victoria, Australia; and the Kemess South mine located in north-central British Columbia, Canada. The company was formerly known as Northgate Exploration Limited and changed its name to Northgate Minerals Corporation in May 2004. Northgate Minerals Corporation was founded in 1919 and is headquartered in Toronto, Canada.
- [By Shane Hupp]
Shares of NEX Group PLC (LON:NXG) have been given an average rating of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is GBX 696 ($9.21).
Hot Gold Stocks For 2022: Golden Star Resources Ltd(GSS)
Golden Star Resources Ltd., a gold mining and exploration company, through its subsidiaries, engages in the acquisition, exploration, development, and production of gold properties. It owns and operates the Bogoso/Prestea gold mining and processing operation that covers approximately 40 kilometers of strike along the southwest-trending Ashanti gold district in western Ghana; and the Wassa open-pit gold mine located to the east of Bogoso/Prestea in southwest Ghana. The company also has an 81% interest in the Prestea underground gold mine located in Ghana. In addition, it holds interests in various gold exploration projects in Ghana, Sierra Leone, Burkina Faso, Niger, and Cote d?Ivoire, as well as holds and manages exploration properties in Brazil in South America. The company was founded in 1984 and is based in Littleton, Colorado.
- [By Max Byerly]
Get a free copy of the Zacks research report on Golden Star Resources (GSS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Max Byerly]
Golden Star Resources Ltd. (NYSEAMERICAN:GSS) was the target of a significant increase in short interest in September. As of September 28th, there was short interest totalling 10,021,831 shares, an increase of 6.9% from the September 14th total of 9,371,344 shares. Based on an average trading volume of 1,038,207 shares, the short-interest ratio is presently 9.7 days. Approximately 4.7% of the company’s shares are sold short.
- [By Joseph Griffin]
Golden Star Resources Ltd. (TSE:GSC) (NYSE:GSS) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$1.48.
Hot Gold Stocks For 2022: Orezone Gold Corp (ORE)
Orezone Gold Corporation is a Canada-based company engaged in the exploration and development of gold properties in Burkina Faso, West Africa. The Company has two advanced-stage gold projects, which include Bombore and Bondi, which are located in Burkina Faso. The Company owns a 100% interest in Bombore, the undeveloped oxide gold deposit in West Africa. The Company’s Bombore is situated approximately 85 kilometers east of the capital city, Ouagadougou. The company’s Bondi gold project is a 100% owned, shallow and structurally controlled, four kilometers long shear zone hosted gold deposit that contains 282,000 ounce (oz) of measured and indicated gold resources. The Company’s Bondi Project is located on the Hounde Greenstone Belt in the southwest of Burkina Faso covering an area of approximately 168 square kilometers. Advisors’ Opinion:
- [By Shane Hupp]
Galactrum (ORE) is a PoW/PoS coin that uses the
Lyra2RE hashing algorithm. It was first traded on December 13th, 2017. Galactrum’s total supply is 2,781,952 coins and its circulating supply is 2,061,952 coins. Galactrum’s official website is galactrum.org. Galactrum’s official Twitter account is @galactrum.
- [By Stephan Byrd]
Galactrum (CURRENCY:ORE) traded 1.7% lower against the U.S. dollar during the 24 hour period ending at 18:00 PM Eastern on August 31st. Galactrum has a total market capitalization of $866,847.00 and approximately $5,272.00 worth of Galactrum was traded on exchanges in the last 24 hours. One Galactrum coin can now be purchased for about $0.42 or 0.00006032 BTC on major exchanges including Stocks.Exchange and Cryptopia. In the last seven days, Galactrum has traded 12.5% higher against the U.S. dollar.
Hot Gold Stocks For 2022: CME Group Inc.(CME)
CME Group Inc. operates the CME, CBOT, NYMEX, and COMEX regulatory exchanges worldwide. The company provides a range of products available across various asset classes, including futures and options on interest rates, equity indexes, energy, agricultural commodities, metals, foreign exchange, weather, and real estate. It offers various products that provide a means of hedging, speculation, and asset allocation relating to the risks associated with interest rate sensitive instruments, equity ownership, changes in the value of foreign currency, credit risk, and changes in the prices of commodities. CME Group owns and operates clearing house, CME Clearing, which provides clearing and settlement services for exchange-traded contracts and counter derivatives transactions; and also engages in real estate operations. Its primary trade execution facilities consist of its CME Globex electronic trading platform and open outcry trading floors, as well as privately negotiated transact ions that are cleared and settled through its clearing house. In addition, the company offers market data services comprising live quotes, delayed quotes, market reports, and historical data services, as well as involves in index services business. CME Group?s customer base includes professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, and governments. It has strategic partnerships with BM&FBOVESPA S.A., Bursa Malaysia Derivatives, Singapore Exchange Limited, Green Exchange, Dubai Mercantile Exchange, Johannesburg Stock Exchange, and Bolsa Mexicana de Valores, S.A.B. de C.V., as well as joint venture agreement with Dow Jones & Company. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group was founded in 1898 and is headquartered in Chicago, Illinois.
- [By Tezcan Gecgil]
Year-to-date (YTD), ARKF is up over 9% and has returned more than 31% over the past year. The fund hit an all-time-high in mid-February. Yet since then, many of the shares in the ETF have come under pressure. Buy-and-hold investors could consider investing around current levels.
CME Group (CME) Source: Shutterstock
52-week range: $144.85 — $221.82
- [By ]
Cboe Global Markets (CBOE) – Get Report shares rose Wednesday, after a report that competing financial-securities exchange CME Group (CME) – Get Report has proposed buying it for almost $16 billion in stock.
- [By James Brumley (TMFjbrumley)]
At its peak price on Wednesday, Cboe Global Markets (NYSEMKT:CBOE) stock was up more than 9% in response to whispers it was to be acquired by fellow exchange CME Group (NASDAQ:CME). Shares were back near break-even levels for the day, however, after CME Group denied the rumor.
- [By ]
Sure, I will invest more in certain high-confidence picks than others, but without going overboard. This might limit the overall impact that a triple-digit winner makes in myHigh-Yield Investingportfolio — like the 156% gain we made onCME Group (Nasdaq: CME)when we sold in May 2018– but it will also soften the blow from a laggard.