Gold Mining Stocks($AEM, $GOLD, $KGC...) Record a 7.01% Weekly Surgeš¹
Gold industry companies are actively involved in the exploration and mining of gold, which finds significant use in jewelry, art, and certain industrial applications. Due to its reputation as a stable investment, gold often sees increased demand during economic turbulence. Key players in this sector include renowned names such as Newmont Corp, Barrick Gold Corp, and Kirkland Lake Gold.
Tickers in Industry - $AEM, $GOLD, $KGC, $HMY, $GFI, $AU, $NEM, $NG, $MUX, $AG, $AGI, $OR, $WPM, $SSRM
Swing Trader, Long Only: Growth Model (Diversified)
Notable Companies
Prominent figures in this sector encompass:
- Newmont Corp (NYSE:NEM)
- Barrick Gold Corp (NYSE:GOLD)
- Wheaton Precious Metals Corp (NYSE:WPM)
- Gold Fields Ltd (NYSE:GFI)
- Kinross Gold Corp (NYSE:KGC)
- SSR Mining (NASDAQ:SSRM)
- FIRST MAJESTIC SILVER Corp (NYSE:AG)
Market Capitalization Overview
Gold Mining Group:
- Average market cap: $9.5B
- The valuation spectrum ranges from MUX's humble 305.7M to NEM's commanding 30B.
Precious Metals Industry:
- Average market cap stands at $866.2M.
- Ranges between DRIFF's 575 and ZIJMY's massive 47.5B.
Price Movement Highlights
Gold Mining Group:
- Weekly average growth: -0.19%.
- Monthly and quarterly growth rates were -6.66% and -23.91% respectively.
- GFI shone with a 3.13% growth, whereas NG recorded the most significant drop of -8.33%.
Precious Metals Industry:
- Weekly growth averaged at -0.06%.
- Monthly and quarterly figures stood at -4.1% and -9.95% respectively.
- GLIOF topped with an astonishing 136.02% surge, whereas AURQF registered a steep decline of -81.71%.
Volume Metrics
Gold Mining Group:
- The weekly volume receded by an average of -1.56%.
- Monthly volume impressively grew by 41.22%, while the quarterly metric diminished by -3.28%.
Precious Metals Industry:
- Weekly volume dip averaged at -0.23%.
- The monthly and quarterly volume growth stood at 33.72% and -7.91% respectively.
Fundamental Analysis Ratings
Providing an insight into the sector's overall health and future prospects, fundamental analysis ratings are crucial. Rated on a scale of 1 (best) to 100 (worst), these metrics serve as a guiding light for potential investments.
The gold mining industry, reflecting a promising 7.01% growth in the past week, showcases its potential and stability, even in volatile economic environments. The metrics and data insights further emphasize the sector's dynamic nature and the pivotal role it plays in the precious metals industry at large.
AEMĀ -Ā On October 5, 2023, AEM's RSI Oscillator emerged from the oversold domain, hinting at a potential upward shift for the stock. This may indicate a trend reversal from bearish to bullish. Given this signal, investors might consider seizing the opportunity to acquire the stock or explore call options. Historical insights from the A.I.dvisor reveal that in 23 out of 28 past such occurrences, the stock witnessed an ascent, suggesting a promising 82% likelihood of a continued uptrend.
GOLDĀ -Ā On October 6, 2023, GOLD's RSI Oscillator transitioned from the oversold bracket, indicating a possible shift from bearish to bullish momentum for the stock. Such a transition suggests that traders might contemplate stock acquisition or procuring call options. Historical data from the A.I.dvisor indicates that in 24 out of 32 previous such transitions, the stock observed a positive movement. Given this pattern, there's a 75% likelihood that GOLD might experience a continued upward trajectory in the near term.
KGCĀ -Ā On October 2, 2023, KGC's 10-day Moving Average descended below its 50-day counterpart, suggesting a potential bearish turn for the stock. Such a crossover typically signals a selling opportunity for traders. Historical analysis reveals that in 15 out of 17 previous such occurrences, the stock sustained its downward direction in the subsequent month. This establishes an 88% probability that KGC might maintain its bearish trajectory in the near future.
