Thu, Apr. 16, 2:59 PM
- B2Gold (BTG +2.9%) reports its Q1 consolidated gold production rose 20% Y/Y to nearly 116K oz. with gold revenue totaling $139M, both quarterly records for the company.
- BTG says its new Otjikoto mine in Namibia successfully transitioned into production, contributing 18.8K oz. of pre-commercial production and $23M of pre-commercial sales; the Otjikoto mill expansion from 2.5M metric tons/year to 3M/year remains on schedule, expecting to increase gold production starting in September.
- BTG says it is on track to meet its 2015 guidance of 500K-540K oz. of gold production at all-in sustaining costs of $950-$1,025/oz.
Fri, Mar. 6, 2:42 PM
- Precious metals miners are bludgeoned as April Comex gold tumbles 2.7% to $1,164.30/oz. for its lowest settlement of the year so far.
- The culprit was the upbeat February jobs report, which sparked fears that the improving economy will prompt the Fed to hike interest rates sooner rather than later.
- ABX -6%, GG -6.6%, NEM -7.9%, AU -6.1%, AUY -6.6%, KGC -7.8%, SLW -3.4%, GOLD -5.4%, EGO -5%, GFI -7.9%, HL -10.4%, RGLD -8.6%, FNV -3.2%, NG -4.3%, SBGL -6.4%, PAAS -4.3%,BTG -6.5%, IAG -6.2%, AUQ -5.6%, AGI -2.8%.
- Precious metals ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, OUNZ, DGL, DBS, GLTR, DGZ, DGLD, AGOL, DBP, WITE, TBAR, USV, UBG, JJP, BAR, GYEN, GEUR, BARS, RGRP, BLNG
- Precious metals mining ETFs: GDX, NUGT, DUST, SIL, GLDX, SLVP, RING, SGDM, PSAU, GDXX
Mon, Jan. 26, 10:41 AM
- Kinross Gold (KGC -1%) is downgraded to Sell from Neutral with a $2.80 target price at Goldman Sachs, which says KGC does not generate sufficient free cash flow and that the decision to allocate capital to the marginal Tasiast expansion project is questionable.
- The firm also removes B2Gold (BTG -2.4%) from its Americas Buy list and cuts the shares to Neutral, believing the positive momentum of the imminent cash flow harvesting of its Okjikoto investment will be offset by the risks of developing the Fekola project.
- Goldman raises its 2015 gold price estimate by 5% to $1,262/oz., but it expects weakness to settle in by Q3 and lowers its 2016 estimate 9% to $1,089, citing a tough macro environment including a strong U.S. dollar.
- ETFs: UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, DGLD, TBAR, UBG, GLDE, BAR, GYEN, GEUR, BARS, GGBP
Thu, Jan. 15, 12:35 PM
- Gold, silver, platinum and palladium are spiking today on Switzerland's surprise move to abandon its currency floor, and shares of the miners are following suit: GDX +6.1%.
- "Gold is much stronger as the 'safety' of the Swiss Franc vanishes,” commented Dave Lutz of JonesTrading.
- Peter Boockvar believes that in "a world of currency battles with printing presses that are extraordinarily large... gold will be the last man standing... the gold bear market is over and will go substantially higher from here."
- Against a backdrop of concerns about global growth, deflation and renewed volatility, gold has been climbing since November as other growth-sensitive commodities such as oil and copper have sold off.
- Among precious metals miners: BTG +9.5%, GG +8.9%, KGC +8.7%, NEM +8.3%, AUY +8.1%, EGO +7.4%, AGI +7%, ABX +6.2%, NG +5.9%, AUQ +5.6%, FNV +5.5%, RGLD +5.4%, IAG +4.8%, GFI +4.2%, HL +4.2%, SLW +3.1%.
- Other ETFs: NUGT, GDXJ, DUST, SIL, JNUG, GLDX, JDST, SLVP, SILJ, RING, SGDM, PLTM, PSAU
Oct. 9, 2014, 3:58 PM
- The price of gold may be rising, but gold mining stocks are getting hammered today; after all, "they are still stocks," Barron's Johanna Bennett writes.
- Gold prices rallied today to $1,234/oz., their highest level since Sept. 23, a day after the dovish minutes from the Fed’s September policy meeting excited gold bugs, but shares of the mining companies are falling along with the broader market selloff.
- Among the top mining names: IAG -6.9%, KGC -6.2%, SLW -5.9%, NGD -5.5%, AU -4.9%, GG -4.7%, ABX -3.9%, AUY -3.9%, GFI -2.8%, BTG -2.7%, RGLD -2.6%, AGI -2.1%, GOLD -1.8%.
- ETFs: GLD, SLV, GDX, GDXJ, NUGT, AGQ, IAU, DUST, SIL, USLV, SIVR, JNUG, SGOL, ZSL, UGL, GLDX, DGP, GLL, UGLD, DZZ, JDST, SLVO, GLDI, DSLV, SLVP, DGL, DBS, SILJ, DGZ, RING, OUNZ, GGGG, DGLD, AGOL, SGDM, PSAU
Oct. 6, 2014, 2:45 PM
- Gold prices bounce off 15-month lows to reclaim $1,200/oz. as the dollar rally pauses, helping strengthen shares of precious metals miners: AU +4.4%, GFI +3%, IAG +1.9%, BTG +3%, GG +2.2%, NGD +1.5%, KGC +1.6%, AGI +1.6%, RGLD +1%, SLW +2.1%.
- Sterne Agee analysts Michael Dudas and Satyadeep Jain foresee gold and silver prices trending higher, with gold averaging $1,400/oz. in 2015 and $1,450 in 2016 and silver averaging $19 next year and $21 in 2016, as “global demand remains firm, liquidity remains ample and the dollar appears overbought.”
- With investor sentiment still skeptical, Sterne thinks any supportive macro news flow could provide fuel for a rally; the firm rate Newmont Mining (NEM +1.5%), Agnico-Eagle Mines (AEM +2.4%), Coeur Mining (CDE +1.3%) and Gold Resource (GORO +0.2%) as Buys, with Barrick Gold (ABX +0.5%), Hecla Mining (HL +4.3%) and Pan American Silver (PAAS +1.5%) rated Neutral.
- ETFs: GLD, SLV, AGQ, IAU, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, DGL, DBS, DGZ, OUNZ, DGLD, AGOL, DBP, TBAR, USV, UBG, JJP, GLDE, BAR, GYEN, GEUR, RGRP, BARS, GGBP, BLNG
Jul. 14, 2014, 11:29 AM
- Precious metals miners are broadly lower as gold futures head for their biggest daily drop of 2014, plunging $29.30, or 2.2%, to $1,308.10/oz.
- Physical demand has remained short of expectations, Commerzbank's Eugen Weinberg says, and India's decision to maintain a 10% import duty on gold and silver likely will dampen future gold demand expectations from the country.
- Barclays, which expects gold to drop to $1,200/oz. by Q3, also expresses caution, saying recent gains across the metals complex look toppy.
- ABX -1.2%, NEM -1.7%, GG -2.4%, KGC -1.8%, AEM -1.4%, AUY -1.4%, EGO -3%, NGD -2.8%, FNV -2.4%, AGI -2.6%, AU -2.2%, IAG -1.9%, GFI -3.4%, BTG -2.1%, NG -0.7%, SLW -2.1%.
- ETFs: GLD, SLV, GDX, NUGT, AGQ, IAU, DUST, SIL, USLV, SIVR, SGOL, ZSL, UGL, DGP, GLDX, GLL, UGLD, DZZ, SLVO, GLDI, DSLV, SLVP, DGL, DBS, GLTR, DGZ, RING, AGOL, DGLD, OUNZ, DBP, GGGG, WITE, PSAU, TBAR, USV, UBG, JJP, GLDE, GYEN, GLDL, RGRP, GLDS, GEUR, GGBP, BLNG
Jun. 27, 2014, 5:36 PM
Jun. 20, 2014, 3:22 PM
- It's a good idea to have exposure to gold stocks in one's portfolio, say JPMorgan analyst John Bridges and team, but beware of sector plays (GDX -1.3%), and instead pick and choose carefully.
- Goldcorp (G +0.1%) is a "simple decision stock," says the team, thanks to its strong balance sheet, growth profile, and disciplined management. Names like Barrick (ABX -1.2%), Newmont (NEM +1.1%), and Kinross (KGC -1.9%) would fare better in a gold bull market, but today's "back-to-basics phase" means valuations are driven by strong operations and accretive deals.
- Another theme is to own players with operations in the safest locations, an idea paying off for Agnico (AEM +0.7%), but the team also recently initiated B2Gold (BTG +1.1%) with positive coverage on the idea some companies can learn how to operate successfully in "more complex locations."
- Another favorite is laggard Buenaventura (BVN -0.5%) which is likely to see improved results in H2.
Jun. 19, 2014, 3:35 PM
- Beaten-up gold miner stocks are strong across the board as precious metal prices move sharply higher and take out key technical resistance levels; Comex gold jumped $41.40 (+3.3%) to settle at $1,314.10/oz., the highest level since April 14, and silver added $0.87 (+4.4%) to end at $20.65/oz..
- Among today's winners: EGO +8.5%, AGI +8.5%, BTG +8.1%, SBGL +8.1%, SLW +5.5%, AUY +5.3%, AUY +5.2%, KGC +5.2%, GG +4.8%, NG +4.4%, AU +4.1%, ANV +4%, GFI +3.8%, ABX +3.2%, NEM +2.8%, IAG +1.7%.
Jun. 3, 2014, 5:40 PM
Apr. 22, 2014, 7:55 AM
- Gold and silver equities now appear more fairly valued, Goldman Sachs says, raising its sector coverage view to Neutral as it sees more responsible capital allocation, successful cost cutting initiatives, a refocus on maximizing free cash flow, and sound strategic portfolio optimization improving the positioning of select companies and offsetting its below-consensus outlook for commodity prices ($1,200/oz. gold from 2015 forward).
- The firm upgrades Barrick Gold (ABX) to Buy, believing the company's financial flexibility has significantly improved; ABX +1.8% premarket.
- B2Gold (BTG) is initiated with a Buy rating and C$4.20 price target, as Goldman cites imminent production growth from the Otjikoto project which enhances BTG’s free cash flow generation and should fund future development.
- Started at Neutral: AGI, FNV, BVN,.
- Maintained at Buy: GG, AUY, SLV.
- Sell: IAG, EGO, PAAS.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, JDST, GGGG, PSAU
Mar. 17, 2014, 5:50 PM
Mar. 3, 2014, 9:55 AM
- Gold futures are surging in the wake of the crisis in Ukraine, and that's giving precious metals miners a big boost in early trading.
- AU +5.2%, GOLD +5%, GFI +4.6%, MUX +4.1%, BVN +3.9%, MVG +3.6%, SSRI +3.3%, IAG +3.2%, BTG +3.1%, HMY +3.1%, EXK +3.1%, ABX +2.8%, AUY +2.8%, SA +2.8%, SLW +2.7%, GG +2.7%, NEM +2.6%, HL +2.6%, KGC +2.3%, AGI +2.2%, AG +1.9%, NG +1.9%, PPP +1.8%, AUQ +1.6%, PAAS +1.2%, NGD +1%.
- ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, GGGG, JDST, PSAU
Dec. 11, 2013, 2:42 PM
- Gold producers' balance sheets appear relatively stable with gold prices at ~$1,250/oz. but would weaken further on lower prices, TD Securities says in an analysis of miners' sensitivity to changes in gold prices.
- At $1,100/oz, companies with the highest forecast ratio of net debt to total capitalization include Barrick Gold (ABX -2.5%), Newmont Mining (NEM -1.9%), Agnico Eagle Mines (AEM -2.5%) and Detour Gold (DRGDF +3.3%).
- TD's top picks include Eldorado (EGO -3.1%), Goldcorp (GG -1.5%), B2Gold (BTG -3.7%), Primero Mining (PPP -0.6%) and Silver Wheaton (SLW -2%).
- ETFs: GDX, GDXJ, NUGT, DUST, GLDX, GGGG, RING, PSAU, JNUG, JDST.
Nov. 15, 2013, 8:53 AM
- B2Gold (BTG) +11.6% premarket after signing a definitive arrangement agreement with Volta Resources relating to the previously announced combination of the two businesses.
- The acquisition of Volta will add to BTG's development portfolio an 81% interest in the Kiaka gold project in Burkina Faso and a 100% interest in two additional exploration projects in the African country.
BTG vs. ETF Alternatives
B2Gold Corp is a gold producer with three operating mines, two in Nicaragua and one in the Philippines. It operates the Libertad Mine and the Limon Mine in Nicaragua, the Masbate Mine in the Philippines and the Otjikoto Mine in Namibia.
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