Gold Prices on Track to Post the Best Quarter Since 1986 – Latest Updates on ABX, EGO, GG and KGC
New York, New York – April 1st, 2016 - Gold miners have been amongst the top gainers in 2016 as prices for the precious metal have soared after hitting multi-year lows in 2015. Market Vectors Gold Miners ETF (NYSEARCA: GDX) is up approximately 46.0 percent year-to-date, while the Market Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) has gained approximately 45.0 percent year-to-date. Gold prices received a boost earlier this week after comments made by Federal Reserve Chairwoman Janet Yellen pushed the dollar lower, increasing gold’s appeal as a safe haven.
Gold prices are on track to post a 17.0 percent gain in the first quarter of 2016, which would be the largest monthly gain since the third quarter of 1986. “People are reluctant to take profits on their gold positions because of all the insecurity the world is facing,” said George Gero, managing director at RBC Wealth Management.
Here is how some gold stocks reacted Thursday:
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) shares declined 1.16 percent to close at $13.58 a share Thursday. The stock traded between $13.57 and $14.00 on volume of 11.41 million shares traded. Barrick Gold is scheduled to release results for the first quarter of 2016 after market close on Tuesday, April 26th. Shares of Barrick Gold have gained approximately 84.0 percent year-to-date and are up roughly 1.0 percent in the past month.
Find out more about Barrick Gold including full access to the equity report at:
Eldorado Gold Corp. (NYSE: EGO)(TSX: ELD) shares jumped 0.96 percent to close at $3.16 a share Thursday. The stock traded between $3.14 and $3.22 on volume of 6.75 million shares traded. Eldorado Gold reported gold production of 723,532 ounces at an average cash operating cost of $552 per ounce in 2015. Shares of Eldorado Gold have gained approximately 6.0 percent year-to-date and are up roughly 7.0 percent in the past month.
Find out more about Eldorado Gold including full access to the equity report at:
Goldcorp Inc. (NYSE: GG)(TSX: G) shares declined 1.16 percent to close at $16.21 a share Thursday. The stock traded between $16.20 and $16.71 on volume of 5.68 million shares traded. Goldcorp is scheduled to release results for the first quarter of fiscal 2016 after market close on Wednesday, April 27th. Shares of Goldcorp have gained approximately 40.0 percent year-to-date and are up roughly 13.0 percent in the past month.
Find out more about Goldcorp including full access to the equity report at:
Kinross Gold Corporation (NYSE: KGC)(TSX: K) shares declined 1.45 percent to close at $3.40 a share Thursday. The stock traded between $3.40 and $3.58 on volume of 18.17 million shares traded. The company recently announced that it is proceeding with the Phase One expansion of its Tasiast mine in Mauritania, which is expected to increase mill throughput capacity from 8,000 tons per day (t/d) to 12,000 t/d. Shares of Kinross Gold have gained approximately 87.0 percent year-to-date and are up roughly 17.0 percent in the past month.
Find out more about Kinross Gold including full access to the equity report at:
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