| How the Gold Price Is Influencing Pure Gold Miners | |
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How the 2015 Fall in Metals Has Impacted Miners Differently (Continued from Prior Part) Pure gold miners
In the precious metals mining industry, there are some stocks that follow the price and market sentiment of precious metals almost exactly. These may also be a part of ETFs like the Market Vectors Gold Miners ETF (GDX) and the Sprott Gold Miners ETF (SGDM). However, many of the mining companies are also engaged in the mining of several precious metals or also mine a few base metals.
A few of the firms that focus on gold include IamGold (IAG) and Gold Fields (GFI). Others like Barrick Gold (ABX), AngloGold Ashanti (AU), and Sibanye Gold (SBGL) focus on gold as their primary mining asset but also mine copper, platinum, and uranium, respectively. However, the most significant part of their revenues come from gold.
Correlation coefficient
As the above chart shows, the fall in the price of gold has led to a significant fall in the price of the stocks that are engaged in mining precious metals. Gold has fallen almost 9.5% in 2015 so far. SBGL, GFI, ABX, AU, and IAG have also lost 17.9%, 36.1%, 32.4%, 11.8%, and 43.2%, respectively, on a year-to-date basis. These five miners together make up 18.3% of the Market Vectors Gold Miners ETF (GDX).
The correlation coefficient measures the sensitivity of the mining stock to the price of gold. The correlation of SBGL, GFI, ABX, AU, and IAG stands at 0.72, 0.58, 0.91, 0.92, and 0.90, respectively. These figures indicate that AngloGold Ashanti (AU) has the highest correlation to gold prices and that ~92% of the time AU and gold prices will move in the same direction.
Among these five companies, AU and IAG are trading at a 3.7% and 13.6% discount from their 100-day moving average prices, respectively. The rest of them are trading at a premium to the 100-day moving averages. The last month has given a breather to mining stocks, and most of them saw a price reversion.
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IAMGOLD Corporation
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PRODUCTEUR |
CODE : IMG.TO |
ISIN : CA4509131088 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
IAMGOLD est une société de production minière d'or basée au Canada. IAMGOLD est productrice d'or, d'argent, de diamants, de niobium, de plomb, de rare earth et de zinc au Botswana, au Canada, au Ghana, au Mali, au Perou, au Suriname, en Afrique Du Sud, en Equateur, en Guyana, en Indonesie et en Tanzanie, en développement de projets d'or au Burkina Faso, en Equateur et en Guyane Francaise, et détient divers projets d'exploration au Canada, au Honduras, au Perou, en Afrique Du Sud et en Equateur. Ses principaux projets en production sont OMAI MINE en Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, DOYON, NIOBEC et GRAND DUC au Canada, YATELA et SADIOLA au Mali, MUPANE au Botswana, DAMANG PROJECT, TARKWA et TEBEREBIE au Ghana, ROSEBEL au Suriname, ZARUMA en Equateur, ARDO MINE en Afrique Du Sud, BUCKREEF en Tanzanie, RAWAS GOLD PROJECT en Indonesie et TAMBORAQUE au Perou, ses principaux projets en développement sont ESSAKANE au Burkina Faso, CAMP CAIMAN en Guyane Francaise et QUIMSACOCHA PROJECT en Equateur et ses principaux projets en exploration sont BAMBADJI au Senegal, TEX-SOL, LESPERANCE, CREVIER et WESTWOOD au Canada, ALAMOUTALA (SADIOLA II) et SIRIBAYA au Mali, GILT EDGE MINE & ANCHOR HILL en Equateur, PODEROSA MINE au Perou et VUELTAS DEL RIO / EL ZAPOTAL au Honduras. IAMGOLD est cotée au Canada, aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,3 milliards CA$ (1,7 milliards US$, 1,6 milliards €). La valeur de son action a atteint son plus haut niveau récent le 28 avril 2006 à 9,98 CA$, et son plus bas niveau récent le 30 septembre 2022 à 1,27 CA$. IAMGOLD possède 464 620 000 actions en circulation. |