Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
This year has been a record breaker for gold, as the safe-haven metal has surged to all-time highs on the back of heavy central bank buying, sticky inflation, and persistently elevated geopolitical tensions. Spot gold prices are up 24.5% on a year to date basis, with the popular currency hedge outperforming both the S&P 500 Index (+18.1% YTD) and the Nasdaq Composite ($NASX) (+17.4% YTD). Most recently, December gold futures (GCZ24), the most active contract, set a new high as recently as Monday's session, peaking north of $2,617 per ounce.
While Vice President Kamala Harris and former POTUS Donald Trump have stayed close in presidential polls, analysts at Saxo Bank recently noted that gold should come out as a winner no matter who takes this November's election. “Either administration would inevitably expand the deficit in an economic slowdown,” wrote the firm's Head of Commodity Strategy Ole Hansen. "It doesn’t appear either party is set to deliver on fiscal austerity, which raises inflation risks, a gold positive."
ETF issuer Global X agrees that higher gold prices are likely to continue, "potentially supported by likely Federal Reserve interest rate cuts, the possibility of a ‘higher for longer’ inflationary environment, and recently robust physical market demand,” and adds that it sees likelihood of particular upside for gold miners, given the group's attractive valuations.
For investors who might be looking to add broad exposure to gold miners or participate in rising gold prices more directly, here are three popular gold ETFs that could rise alongside the precious metal.
1. SPDR Gold Shares (GLD)
Established in 2004 as a trust that holds physical bullion, SPDR Gold Shares is the world's largest physically backed gold ETF, with assets under management (AUM) of about $72.3 billion. The ETF holds physical gold bars and issues shares representing those holdings. The price of GLD shares is designed to track the price of gold bullion, minus the ETF's expenses. State Street Global Advisors acts as the trustee of the SPDR Gold Shares.
Up 24.2% on a YTD basis, GLD has an expense ratio of 0.40%. Its average daily share volume is close to 6 million, making it extremely liquid.
Notably, for investors who want to play gold via options, GLD is a strong choice; the fund's calls and puts are actively traded, with weekly expiration dates available.
2. ProShares Ultra Gold 2X ETF (UGL)
Founded in 2009, the ProShares Ultra Gold 2X ETF is a leveraged ETF designed to provide investors with twice the daily return (or loss) of the gold price, as measured by the Bloomberg Gold Subindex. This means that UGL aims to deliver a 2x daily return on gold's price movement. The fund's AUM currently stands at $315.15 million.
Shares of the ETF are up 43.6% on a YTD basis, with an expense ratio of 0.95%. UGL's average daily share volume is around 170,000, though options volume on the fund is very light.
As is typical with most leveraged ETFs, ProShares warns that the targeted leverage goals of the fund may deviate significantly beyond holding periods longer than one day. However, for investors seeking amplified gains who don't mind the heightened risk (and fees), UGL could be worth considering.
3. VanEck Gold Miners ETF (GDX)
We conclude our list of gold ETFs with the VanEck Gold Miners ETF , the third-largest gold ETF in the country with an AUM of $15.2 billion. GDX seeks to track the performance of the NYSE Arca Gold Miners Index, which is composed of companies involved in gold mining and exploration. By investing in this ETF, investors can gain exposure to the gold mining industry without having to invest directly in individual mining companies.
GDX is up 27.4% on a YTD basis. It also has healthy liquidity, with an average daily volume of about 17 million shares. The fund also has a fairly active options market, including weekly expiration dates.
GDX offers a dividend yield of 1.25%, and carries an expense ratio of 0.51%.
The fund's top three holdings consist of Newmont Mining (15.27%), Agnico-Eagle Mines (10.21%), and Barrick Gold (9.05%).
On the date of publication, Pathikrit Bose did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The leading gold miner, Barrick Gold , is projecting a 30% growth in gold-equivalent ounces from its existing assets by the end of the decade.
Speaking at the Gold Forum Americas in Colorado Springs on Tuesday, CEO Mark Bristow pointed out the company's differing approach in the era of M&A, with the latest multi-billion transaction occurring just days ago.
"Chronic underinvestment in exploration, which I have often flagged at this forum, has led to a dearth of new projects, forcing companies into M&A," Bristow noted, elaborating on the company's asset base for prolonged organic growth.
"We have six Tier One gold mines with more in the making, and our long-term plans are based on quality orebodies with industry-leading grades," he said.
Now read: Goldman Sachs Sees Gold Higher, Takes A Downbeat Stance On Iron Ore
One of Barrick's key growth regions is Nevada, which Bristow described as "the world's premier mining jurisdiction." The newly commissioned Goldrush mine is set to ramp up to 400,000 ounces per year by 2028. Adjacent to Goldrush is the 100% Barrick-owned Fourmile project, which boasts gold grades double that of Goldrush, making it a tier-one mine in the making.
Additionally, the 14-million-ounce Leeville project is positioned to significantly enhance Carlin's reserves, potentially extending its life beyond 2045 and becoming a major growth driver for the company.
Beyond gold, Barrick is also expanding its copper portfolio, leveraging the rising demand for the strategic metal. In its second phase, the Reko Diq copper-gold project in Pakistan is expected to produce 400,000 tonnes of copper and 500,000 ounces of gold annually.
Meanwhile, the Lumwana Super Pit in Zambia, which should complete a feasibility study by year's end, is slated to double its production over a 30-year life. This move should expand Barrick's presence in the copper sector and diversify its revenue streams.
Barrick's growth plans get a boost from prudent financial management. Since 2019, the company has reduced its net debt by $3.5 billion, invested $11.2 billion in long-term mine plans, and returned over $5 billion to shareholders.
This solid financial position and robust operating cash flows provide Barrick with the flexibility to fund usually expansive commodity production growth.
However, Bristow believes the market is undervaluing the company, which trades at 14.4 times its forward earnings.
"Based on analysts' consensus net asset value calculations, the value of just our interest in Nevada Gold Mines and our copper portfolio almost exceeds our current market capitalization," he said.
Read Next:
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get started!
Image via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Newmont Corporation (NEM) closed the most recent trading day at $53.11, moving -0.04% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a drop of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.2%.
The gold and copper miner's stock has climbed by 3.79% in the past month, exceeding the Basic Materials sector's gain of 1.37% and the S&P 500's gain of 1.54%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $0.71, reflecting a 97.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.07 billion, up 63.44% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.82 per share and revenue of $17.39 billion. These results would represent year-over-year changes of +75.16% and +47.26%, respectively.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 18.85. This signifies a premium in comparison to the average Forward P/E of 16.86 for its industry.
Also, we should mention that NEM has a PEG ratio of 0.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 0.8.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 137, this industry ranks in the bottom 46% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Investment Research
Agnico Eagle Mines (AEM) closed the most recent trading day at $82.29, moving -0.33% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.03%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
The gold mining company's stock has climbed by 2.13% in the past month, exceeding the Basic Materials sector's gain of 1.37% and the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of Agnico Eagle Mines in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.90, showcasing a 104.55% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.83 billion, indicating a 11.17% growth compared to the corresponding quarter of the prior year.
AEM's full-year Zacks Consensus Estimates are calling for earnings of $3.65 per share and revenue of $7.9 billion. These results would represent year-over-year changes of +63.68% and +19.23%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Agnico Eagle Mines. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Agnico Eagle Mines currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Agnico Eagle Mines currently has a Forward P/E ratio of 22.65. This represents a premium compared to its industry's average Forward P/E of 16.86.
Investors should also note that AEM has a PEG ratio of 0.8 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.8.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 137, finds itself in the bottom 46% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Zacks Investment Research
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.