Entering text into the input field will update the search result below

Gold Stocks press against their 52-week Highs

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Solar, Utilities, quantitative analysis, Dividend Investing

Seeking Alpha Analyst Since 2009

The author is semi-retired having had a successful career spanning a range of professional services from venture capital/private equity to consulting to investment banking. As an undergraduate, he received a bachelors of arts in mathematics and a bachelors of science in mechanical engineering. He later completed an MBA.

Any article created here is for informational and educational purposes only and shall not be construed to constitute investment advice. Nothing contained within an article, comment, or posting shall constitute a solicitation, recommendation or endorsement to buy or sell any security.

Gold Stocks have continued their upward climb and many are now pushing towards their 52-week highs. 

Table 1: Largest Gold Mining Companies by Market Capitalization
Company Name Ticker Market Cap ($ Millions) % of Combined Market Cap
Barrick Gold Corporation ABX  $51,795 20.6%
Goldcorp Incorporated GG  $34,028 13.6%
Newmont Mining Corporation NEM  $28,739 11.4%
AngloGold Ashanti Ltd. AU  $17,862 7.1%
Ivanhoe Mines Ltd IVN  $14,009 5.6%
Gold Fields Ltd. GFI  $12,713 5.1%
Agnico-Eagle Mines Limited AEM  $12,040 4.8%
Kinross Gold Corporation KGC  $11,346 4.5%
Eldorado Gold Corp EGO  $9,415 3.8%
Yamana Gold, Inc. AUY  $9,340 3.7%
Iamgold Corporation IAG  $7,795 3.1%
Randgold Resources Limited GOLD  $7,358 2.9%
Harmony Gold Mining Co. Ltd. HMY  $        4,957 2.0%
Novagold Resources Inc New NG  $        3,215 1.3%
Royal Gold, Inc. RGLD  $        2,636 1.1%
Data provided by Zacks.com services.

This list of 15 stocks represents approximately 90% of the market capitalization of the Gold Mining stocks listed on Zacks. The top 10 stocks would represent a little over 80%. The performance of these stocks will then provide a strong indicator of the overall performance of the industry.  The graph below shows the required percent returns from Friday's close to reach the 52-week high (marked in green) or to fall to the 52-week low (marked in red).

Graph of 52 week low and 52 week high required returns from current

Data in graph provided by Zacks.com services.

You can clearly see that all gold stocks with a few exceptions are well off their 52-week lows and many are within a few percentage points of their 52 week highs.  I provided some additional information in earlier articles on gold stocks here and here.   Will this trend continue?  How much higher will the price of gold climb? 

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.