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SLVP vs. ETF Alternatives
The iShares MSCI Global Silver Miners Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI ACWI Select Silver Miners Investable Market Index.
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Monday, Aug 122013, 9:28 AM
Monday, Aug 122013, 9:28 AM| 5 Comments
- Gold and silver mining stocks are trading higher after the SPDR Gold ETF (GLD +2.1%) logs its first increase in holdings since June: HMY +4%, EGO +3.7%, IAG +3.6%, AUY +3.4%, HL +3%, GDX +2.6%, KGC +2.5%, SLW +2.4%, ABX +2.2%, SLV +2%, GFI +2%, NEM +1.7%.
- December Comex gold +2.2% to $1,341.50/oz.
- ETFs: GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, SIL, SILJ, SLVP.
Tuesday, Aug 62013, 3:22 PM
Tuesday, Aug 62013, 3:22 PM| 2 Comments
- It's worse for the sliver miners than the gold miners today after Fresnillo (FNLPF.PK -5.6%) reported a 61% decline in H1 profit and investors decide 2.6x book value and a 26.4 PE ratio is too expensive with silver (SLV -0.9%) slipping below $20 per ounce.
- Fresnillo makes up 12% of the Global X Silver Miners ETF (SIL -6.3%) and 5.5% of the iShares MSCI Global Silver Miners ETF (SLVP -3.1%), but isn't a top-weighted stock in the PureFunds ISE Junior Silver ETF (SILJ -6.5%).
Tuesday, Jul 162013, 3:18 PMGold (GLD +0.4%) gains again, sending the price to a 3-week high of $1,290/ounce and the miners (GDX +4.2%), (PSAU +3.3%) are responding. "Never let a serious crisis go to waste," says the JPMorgan team, paraphrasing Rahm Emanuel. The bear market is forcing managements to not only cut costs, but to consider restructuring from "a shape that was optimized for the 12 year bull market in gold to one that is more suited to a future with less available liquidity." Barrick (ABX +5.2%), Goldcorp (GG +3.9%), Gold Fields (GFI +4.4%), NovaGold (NG +3.2%). Don't forget the silver miners (SIL +3.1%): Hecla (HL +4.5%), Silver Wheaton (SLW +3.9%), Coeur (CDE +5.8%). |Tuesday, Jul 162013, 3:18 PM| 3 Comments
Friday, Jun 72013, 2:09 PMGold miners large (GDX -4.1%) and small (GDXJ -5.3%) alike are suffering a beat-down after jobs data from both the U.S. and Canada beat estimates; gold's gains for the week are entirely erased, and the metal "could melt even faster" if the global recovery continues. ABX -4.2%, AEM -6.7%, NEM -2.8%, GG -4.5%, AU -5.5%, EGO -5%, KGC -5.3%. SLW -2.8%, SSRI -7.3%, EXK -5.9%. GLD -2%, SLV -4.1%. |Friday, Jun 72013, 2:09 PM| 39 Comments
Monday, May 202013, 12:57 PMAs precious metals prices turn around, share prices of gold (GDX +4.7%) and silver miners (SIL +3.1%) surge: ABX +5.9%, GG +4.5%, KGC +6.4%, NEM +4.7%, SLW +4%. Even South African producers turn mixed, despite the call from the country's mine workers union for big pay increases: AU -0.8%, GFI +1.5%, HMY -0.5%. |Monday, May 202013, 12:57 PM| 2 Comments
Wednesday, May 82013, 2:05 PMToday's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. |Wednesday, May 82013, 2:05 PM| 5 Comments
Monday, Apr 152013, 12:59 PMPan American Silver (PAAS -7%) is downgraded to Market Perform with a $19.50 target price (from $30) at BMO Capital, as a lack of growth and high cost structure expose shareholders to downside risk in a declining metal price environment. The firm cuts its EPS and cash flow/share outlook 58% and 34%, respectively, to $0.74 and $1.55, well below consensus. Also, SLW -7.5%, HL -8.5%. |Monday, Apr 152013, 12:59 PM| 3 Comments
Monday, Apr 152013, 5:01 AMGold futures leg down to $1,401, -6.1%. Silver -9.8% to $23.74. ETFs to watch: GLD, IAU, DGP, SGOL, UGL, PHYS, AGOL, DGL, UBG, DZZ, GLL, DGZ, UGLD, DGLD, DBP, GLDI, GDX, GDXJ, NUGT, AGQ, GLDX, PSAU, DUST, GGGG, RING, SLV, PSLV, SIVR, ZSL, DBS, USV, USLV, DSLV, SILJ, SIL, SLVP. |Monday, Apr 152013, 5:01 AM| 2 Comments
Friday, Apr 122013, 2:27 PMGoldman's short call on gold looks prescient, as comex gold sinks $63.50 to settle at $1,501.40/oz. for its lowest close since July 2011. Traders and analysts see no obvious trigger for the selloff, which seems to reflect the malaise that has gripped the market. Silver slips $1.37 to $26.33/oz. Miners are huge losers: HMY -7.5%, ABX -7.3%, AEM -6.9%, AUY -6.2%, SLW -5.6%, NEM -5.2%, EGO -4.9%, GFI -4.8%, GG -4.5%. |Friday, Apr 122013, 2:27 PM| 37 Comments
Friday, Mar 222013, 9:49 AMSilver Wheaton (SLW +2.1%) shoots higher at the open after last night's Q4 report said earnings hit a record $0.50/share vs. $0.41 a year earlier and revenue also set a record at $287M. Attributable silver equivalent output rose 22% to 8.5M oz. Average cash costs rose to $4.70 per silver equivalent oz. from $4.06 a year ago. |Friday, Mar 222013, 9:49 AM| Comment!
Tuesday, Mar 52013, 10:15 AMGlobal M&A in the mining sector fell by a third last year to the lowest level since 2005, with nearly half of 2012’s $110B tally due to the announced Glencore-Xstrata merger, according to a PriceWaterhouse study. The data comes as little surprise to miners at this week's annual PDAC conference: "Every company coming here is saying, we don’t have the money." |Tuesday, Mar 52013, 10:15 AM| Comment!
Wednesday, Feb 202013, 11:41 AMThe long-cycle in precious metals has peaked, writes Citi's Jon Bergtheil, arguing we'd need a level of systemic risk higher than the past few years to warrant a continued bull run. Especially vulnerable are the PM miners (GDX, SIL) which benefit from what may be mistaken belief $35 silver and $1,600 gold are the "new normal." |Wednesday, Feb 202013, 11:41 AM| 21 Comments
Friday, Nov 302012, 12:10 PMQ4 should show a big improvement for Silver Wheaton (SLW) after its Q3 suffered from several sales lags, Scotiabank mining analyst Trevor Turnbull says in calling shares a Buy. SLW is growing production at a 70% rate, he says, noting much of the expansion has begun and is anchored by low-cost assets such as Penasquito in Mexico and Pascua-Lama in Chile and Argentina. |Friday, Nov 302012, 12:10 PM| 4 Comments
Monday, Nov 52012, 7:31 AMMore on Silver Wheaton (SLW) Q3 earnings: Silver equivalent sales a disappointing 5.1M ounces due to timing of deliveries, but are expected to be made up for in the future. Cash margin of $27.70, down 15% Y/Y. Shares -4.3% premarket. Keep an eye on the Silver Miners ETF (SIL), of which SLW makes up 13.26% of the holdings. (PR) |Monday, Nov 52012, 7:31 AM| 1 Comment
Monday, Sep 242012, 9:38 AMInvestors have been voracious buyers of silver and silver miner ETFs on QE-infinity, and when silver is outperforming gold, it is usually a bullish sign for the entire precious metals complex. Physically backed silver ETFs (SLV, SIVR, DBS) have jumped 23% in three months; silver miners (SIL, SLVP) are up 22%-plus. Physical gold (GLD) added ~10% and gold miners (GDX) ~15%. |Monday, Sep 242012, 9:38 AM| 4 Comments
Thursday, Jun 282012, 3:07 PMSilver falls 2.6% to a 19-month low of $26.23, but thus far there are no signs of a rush out SLV. A key area of support is $26, says Michael Shaoul, with the next stop on the charts being $17.50 - the point at which the metal began its big run in 2010. The miners (SIL -2.6%) have performed better than the metal (-7.6%) during June. |Thursday, Jun 282012, 3:07 PM| Comment!