More sentiment shift on gold miners


Also boosting the gold miners (see Klarman earlier) is Credit Suisse upping its price target on Barrick Gold (ABX +5.1%) by 10% to $22 per share, saying the company "is moving in the right direction." Goodhaven Fund - a highly concentrated, low-turnover mutual fund which earlier made the case for Barrick - disclosed a tripling of its position during Q2.

Newmont Mining (NEM +5.5%), Goldcorp (GG +4%), Vista Gold (VGZ +7.1%).

The Materials Select SPDR (XLB) is the best-performing sector today.

Related ETFs: FXZ, IYM, PYZ, VAW, RTM, PSCM, UYM, SMN, SBM.

Gold miners: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.

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Comments (5)
  • evan.prospect
    , contributor
    Comments (704) | Send Message
     
    Suck it shorts!
    14 Aug 2013, 02:59 PM Reply Like
  • Stock Jackal
    , contributor
    Comments (545) | Send Message
     
    LOL
    14 Aug 2013, 03:38 PM Reply Like
  • 6151621
    , contributor
    Comments (1172) | Send Message
     
    Does this Analyst at CS talk to the gold forecasting guys? Since he estimates negative cash flow at $1200 gold what happened to $1100 gold? This is from the CS report "At $1,200/oz, we est. ABX will need to draw ~$2.3B on its $4B credit facility in 2016."
    http://buswk.co/14yT3EM
    14 Aug 2013, 03:55 PM Reply Like
  • mickmars
    , contributor
    Comments (1312) | Send Message
     
    I look forward to the day that I can bail out of ABX. They, and most other majors, couldn't make money with gold at $1700.

     

    Fool me once....

     

    I'll stick to the metals themselves.
    14 Aug 2013, 04:50 PM Reply Like
  • suzuka312
    , contributor
    Comments (70) | Send Message
     
    I need gold companies to go back to their june/july lows.
    15 Aug 2013, 01:10 AM Reply Like
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