Gold Mining Stocks – Any Bargains Left?

Perseus Mining

With the recent run-up in the spot price of gold from the $1050 lows on December 17, 2015 to well over $1,260 today, the gold rush is back! With concerns over the slowdown in global economic growth increasing, even Deutsche Bank has come out and recently declared that it’s time to buy gold. In addition, I think it’s safe to say that the majority of gold mining stocks have also experienced a resuscitation as of late. These days, I know that gold must be entering near-overbought territory, given my cellphone keeps getting pinged throughout the day with friends and relatives asking for mining stock suggestions, which is something that seldom happened last year.

It’s been a pretty wild ride these past couple of weeks, no doubt. As the saying goes, in the early stages of a continue reading at Seeking Alpha

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4 years ago

My thoughts are that on big picture basis miners remain historically cheap as a group. Take first majestic at 5, it has ran from 2.50 but look at where it is going in a favorable gold/silver environment. It was at 30 in 2011, probably going back there. Same with most miners in time. I suspect gold 2k will bring hui past 600. That said I suspect gold not ready for prime time. Miners may have seen bottom but gold may be going back to test prior January lows. I would be cautiously buying in to miner weakness, especially moving in… Read more »

4 years ago

Just wanted to congratulate you, and wish you the best of luck. I’m glad to see your still posting as I thought it might have been a while to see a new post as you take on retirement.