Gold Miners' Q4'22 Fundamentals

Summary

• The major gold miners just reported mixed quarterly results. Uncharacteristically they enjoyed strong production growth, which was impressive.
• While their higher mining costs fueled by inflation kept climbing, the rate of increases moderated. If this disinflation proves a trend, it along with higher gold prices will boost profitability.
• The gold miners continue to earn solid unit profits. Those will really grow as gold’s interrupted upleg resumes. So fundamentally the major gold miners’ operations still support much-higher stock prices.

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The gold miners are finishing reporting their latest quarterly results, revealing how they are actually faring fundamentally. This reality check is important, as sentiment is down in the dumps after this sector was pummeled lower with gold in February. While the major gold stocks’ Q4’22

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

I own extensive long positions in gold stocks and silver stocks which have been recommended to our newsletter subscribers.