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(RTTNews) – A report released by the Energy Information Administration on Wednesday showed an unexpected decrease by U.S. crude oil inventories in the week ended July 12th.
Author: RTTNews
Posted: July 17, 2024, 2:38 pm
The gold spot price hit a new all-time high on Tuesday (July 16), rising as high as US$2,469.30 per ounce. The yellow metal has been on a record-setting run this year, buoyed by strong demand from central banks, as well as a high level of buying from retail investors in Asia. It is now up about 20 percent year-to-date. This week’s rise came on the back of a variety of factors, including safe-haven demand after the assassination attempt on former US President Donald Trump over the weekend. Comments made on Monday (July 15) by US Federal Reserve Chair Jerome Powell also helped push gold higher — speaking at the Economic Club of Washington, DC, he said the central bank will cut interest rates before inflation hits its much-discussed 2 percent target. June US retail sales data, which came out on Tuesday, was flat, reinforcing expectations that the Fed could make its first rate reduction in September. Gold tends to fare well when interest rates are low. As of 5:00 p.m. PDT on Tuesday, gold was slightly lower than its record price, trading at US$2,467.25. Next stop for gold — US$2,500 and beyond? Gold has US$2,500 clearly in sight, but what does its price trajectory look like once it gets there?Despite its historic run, many market participants believe the yellow metal still has further to go. Lobo Tiggre, CEO of IndependentSpeculator.com, said he was optimistic about gold’s prospects heading into 2024, but its price increase has come without the factors that made him bullish. “The global macro context … is extremely bullish for gold, and that’s still ahead of us. That’s still — the catalysts that I was expecting to bring gold to where we are now haven’t happened yet. So starting from where we are now instead of US$2,000 I think makes it — it embarrasses me to put numbers on it, but it’s a very positive direction for gold,” he told the Investing News Network (INN) at the Rule Symposium, held last week in Boca Raton, Florida. Opinions vary widely about exactly how positive the direction may be for gold during this bull market, but Brien Lundin, editor of Gold Newsletter, shared his forecast with INN at the same event. “I think clearing US$2,400 for good — trading a few weeks above that level would be key,” he said. “Eventually I think we’re going to go much higher. The timing of that is always the hard part. Getting back to where I think we’re going to be at the end of this cycle, I think the gold price is going to be somewhere between US$6,000 and US$8,000.” When will gold stocks finally move? With the gold price historically high, market participants are hoping gold equities are next.While the VanEck Gold Miners ETF (ARCA:GDX) and the VanEck Junior Gold Miners ETF (ARCA:GDXJ) are respectively up about 28 percent and 32 percent year-to-date, those increases haven’t overshot gold’s rise by much. Investors typically use gold stocks to get leverage on the gold price, meaning they are seeking much larger gains. Many experts believe generalist investors will become interested in gold stocks when gold miners start to release their second quarter results in the next month or so. Gold’s 2024 price rise kicked off in earnest in Q2, meaning that it’s the first quarter where companies will see the increase reflected on their balance sheets. “I think we have an exceptionally rare and very, very attractive opportunity in the gold stocks,” Adrian Day, president of Adrian Day Asset Management, told INN on the sidelines of the Rule Symposium.”I think when companies start to report their second quarter earnings later this month, we’re going to start to see some very attractive cashflow numbers — better than the first quarter and better than the year-ago comparisons,” he explained in a conversation with INN. “I’ve got to think that investors, when they see two back-to-back quarters of strong cashflow numbers, are going to start to look at these companies.” Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.Affiliate Disclosure: The Investing News Network may earn commission from qualifying purchases or actions made through the links or advertisements on this page.
Author: Investing News Network
Posted: July 17, 2024, 12:00 am
Speaking at this year’s Rule Symposium, which ran from July 7 to 11, Rick Rule, proprietor at Rule Investment Media, shared his updated thoughts on the US economy, including whether a recession is on the horizon. In his view, it’s not guaranteed — he said investors may want to begin to expect one, but hope they end up being wrong. When asked about how gold tends to perform in a recession, Rule said it often goes lower at first if the recession is accompanied by a liquidity squeeze. After that, it depends on how the US Federal Reserve responds. “If they respond to a recession by lowering the nominal interest rate by quantitative easing … what happens is the precious metals markets go berserk. So if we have a circumstance where we have an inflationary recession — stagflation — and where the Fed’s response is a political response, which is to say they make credit easy, then all bets are off for precious metals and precious metals-related assets to the upside,” he explained during the interview.Watch the video for more from Rule on the topics mentioned above, as well as his thoughts on uranium sector events, how to invest in rare earths stocks and potential time horizons for platinum-group metals. You can also click here to view the Investing News Network’s Rule Symposium playlist on YouTube. Recorded presentations from the Rule Symposium are available here. Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.Affiliate Disclosure: The Investing News Network may earn commission from qualifying purchases or actions made through the links or advertisements on this page.
Author: Investing News Network
Posted: July 16, 2024, 9:00 pm
Dr. Nomi Prins shared her thoughts on why central banks are buying gold, uranium’s role in the energy transformation and why she became a director at ASX-listed Meteoric Resources (ASX:MEI). The geopolitical macroeconomist and best-selling author emphasized that a shift toward real assets is taking place. “We are at the cusp of I think a major, major bull cycle for real assets because of weakness in banks, because I think the (US Federal Reserve) and other central banks are less relevant with respect to monetary policy and controlling anything. And because the world is evolving very quickly (due to) artificial intelligence, data, technology, the energy transformation,” she said on the sidelines of the Rule Symposium in Boca Raton, Florida. “All of these things require more resources than we’ve actually mined in a lot of cases. So I think the main thing to think about as an investor is that some of these are long-term plays … in your investment portfolio.” Watch the interview for more from Dr. Prins on gold, uranium and rare earths. You can also click here to view the Investing News Network’s Rule Symposium playlist on YouTube. Recorded presentations from the Rule Symposium are available here.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.Affiliate Disclosure: The Investing News Network may earn commission from qualifying purchases or actions made through the links or advertisements on this page.
Author: Investing News Network
Posted: July 16, 2024, 8:55 pm
Although electric vehicle (EV) sales have trended steadily upward over the last five years, industry experts present at Fastmarkets’ Lithium Supply and Battery Raw Materials Conference are concerned that high price points, continued range anxiety and geopolitical tensions could impede future market growth.Although EVs gained market share last year, accounting for 18 percent of the 75.3 million automobiles sold, figures from the International Energy Agency show that China continues to lead other regions by a wide margin. Of the 14 million EVs sold in 2023, most new registrations were made in China, which came in at 60 percent. Meanwhile, Europe and the US accounted for 25 percent and 10 percent, respectively.During a panel discussion at the event titled “The Future of Demand: Are We in EV Winter?” participants highlighted several reasons why China is outpacing every other region when it comes to EV adoption. The most prominent factor is the sheer size of the Chinese automobile industry. “China is an automotive machine the likes of which the world has never seen before,” said Michael Dunne, CEO of Dunne Insights. “China last year produced 30 million cars — that’s three times as many as were produced here in the US. China can supply half the world’s demand for vehicles,” added the market intelligence expert. Demographic factors have also led to purchase hesitation in markets outside of China. While awareness of EVs is no longer a significant hurdle, with brands like Tesla (NASDAQ:TSLA) gaining high visibility, convincing older drivers to switch from gasoline-powered vehicles remains a challenge. While 30 percent of American drivers aged 18 to 25 plan to buy an EV, 58 percent of people in the country still prefer gasoline vehicles.“EV manufacturers are seeing that consumers, especially here in North America, like to drive heavy vehicles long distances at higher speeds. And that’s the antithesis of what a battery-powered EV wants,’ said Dunne.These trends have led to more consumers in North America opting for plug-in hybrid EVs (PHEVs) or traditional internal combustion engine vehicles. And they’re not the only trends dampening purchases. American drivers still lack EV enthusiasm Another difference between China and other markets is general excitement, the panelists noted. Chinese consumers have become more excited about EVs, especially after the introduction of Tesla’s Model 3, which changed perceptions around EVs, according to Dunne. He noted that before 2020, Chinese consumers weren’t excited about EVs; however, once the Model 3 was released there was a shift.“I saw a tremendous mindset change — a perception among Chinese consumers where suddenly EVs were the new cool (thing) when the Model 3 was introduced and manufactured in China,” said Dunne.He went on to explain that suddenly, brands like BYD (OTC Pink:BYDDF,SZSE:002594) gained significant traction. Prior to that point, BYD was lagging in the auto industry, with sales declining in 2018 and 2019.Dunne believes that a domestic manufacturer in North America and Europe needs to release a standout model, proving that there is a company in these regions that can offer an excellent product at a reasonable price. Without that, customers may remain satisfied with their hybrids, PHEVs or gasoline-powered vehicles.Feeding into the lack of enthusiasm for EVs is their high price point, an area that Chinese manufacturers have addressed through a wide range of EV offerings at various price points.For Phoebe O’Hara, battery raw materials analyst at Fastmarkets, the issue of affordability and lack of choice are two sides to the same coin. “China is the only region where EV prices went down last year; in the US and Europe they went up,” she said, noting that the cost of the average EU EV is 2.4 times higher than the average national income.“If we’re trying to open up to low- and middle-income consumers, which is most of the market, there simply aren’t any (EVs) available,” said O’Hara, adding that in the UK there are 600 internal combustion engine vehicle models, compared to two EV models. “I think China is the answer when it comes to affordability,” she said. Geopolitical tensions spur pricey tariffs EV sector tariffs are also throwing a wrench in widespread adoption outside China. Currently EVs manufactured in China are subject to tariffs in the EU and North America. On July 4, the EU raised tariffs on Chinese EVs, with new rates ranging from 17.4 to 37.6 percent on top of the existing 10 percent duty. While this move aims to protect the EU’s motor industry, it may increase EV prices for consumers.The new tariffs also impact Beijing, which is already in a trade war with Washington, as the EU is a key market for Chinese EVs. EU officials claim China’s “unfair subsidization” allows the country’s EVs to be sold cheaper than EU-made vehicles, an allegation that China denies. Likening China’s advantage to the US/Russia space race of the 1960s, Dunne noted that “automakers globally recognize China has a huge lead in terms of batteries, power supply chains and costs … (however), the urgency doesn’t seem to be there, and that’s really concerning.”Despite tariffs, Chinese automakers have maintained profitability and competitive prices in markets like Europe, except in the luxury EV segment, where tariffs on Shanghai Automotive Industry vehicles have increased costs for consumers.“But I think the people that inevitably lose out are consumers,” said O’Hara.Overall, the panelists suggested that while tariffs have added some complications, the bigger challenge is developing domestic supply chains and manufacturing capabilities to reduce reliance on imports.Ultimately, the experts acknowledged China’s significant competitive advantage due to its massive automotive manufacturing capacity and supply chain capabilities. With that in mind, they suggested that western automakers should adopt and learn from China’s strategies to become more competitive.At the same time, they cautioned against becoming overly reliant on China, which could lead to losing domestic market share and increasing geopolitical tensions. Overall, a balanced approach was recommended — leveraging China’s strengths while investing in domestic supply chains and capabilities to reduce dependency.While many Chinese EVs face tariffs, subsidies have offered some support to the industry. The US$7,500 consumer tax credit for new EVs included in the Inflation Reduction Act has helped spur EV sales in the US. As of January 1, 2024, that rebate can be applied at the dealership, effectively lowering the total upfront cost. According to a February Reuters report, the US government issued US$135 million in EV tax credits over the first month of the year.Speaking about the benefits of subsidies, O’Hara noted that when the UK removed EV subsidies in 2022, sales plummeted 22 percent year-over-year. The panelists explained that when subsidies and incentives are used strategically, they can support industry development, but emphasized that they shouldn’t be used as a crutch that prevents automakers from making the necessary investments and innovations to succeed on their own. Something that O’Hara thinks is more beneficial than short-term subsidies is leadership.“Honestly, it’s rhetoric,” she said. “If you don’t have somebody in power who’s supporting the energy transition, who’s saying positive things about vehicles and supporting OEMs — if you can’t do anything in a business way, you do it with soft power. And I think the UK is great example where that has fallen completely to the wayside.” Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 16, 2024, 8:50 pm
The silver price saw significant gains through the first half of 2024, hitting levels not seen in over a decade.After starting the year trading in the US$22 per ounce range, the price of silver saw little change until March, when the white metal began to gain momentum following a US Federal Reserve meeting. While the Fed left interest rates steady at that time, dovish language provided critical support for silver as investors pushed the price above US$25. Silver continued its upward trend through April and into May, when it climbed above US$32 for the first time since November 2012 and set a year-to-date high of US$32.07 on May 27. Silver price breaks important US$30 level A number of factors have been driving the price of silver upward in 2024. Even though rate cuts from the Fed have yet to materialize, softening interest rates and slowing economic growth have led to greater speculation that at least one reduction will come in the second half of the year.Silver was initially followed gold higher in the March to May period. However, the gains in silver have outpaced gold nearly two to one in 2024. To date, silver has risen nearly 30 percent, while gold has only gained 15 percent. Chart via Trading Economics.Silver price, January 1, 2024, to July 16, 2024.The pace of these gains has led to improving sentiment among investors. As of April, managed money positions in silver had climbed to their highest level since May 2022, and exchange-traded product holdings rose to their highest since July 2023, as outlined in the Silver Institute’s 2024 World Silver Survey presentation and report.In an email to the Investing News Network (INN), Silver Institute President and CEO Michael DiRienzo said that the close link between silver and gold has led some investors to use it as a leverage play to gain exposure to gold. “In addition, silver’s low unit cost and lower entry level have also made it more attractive to retail investors with a limited investment budget,” DiRienzo explained.This was a point echoed by IndependentSpeculator.com CEO Lobo Tiggre in an interview with INN that took place on July 9. He suggested that even though silver has acted more like an industrial metal over the last several years, 2024 has seen investors once again looking at it for its value as a precious metal.“That market dynamic has changed, and it’s moving more strongly with gold again as a monetary metal should … I think it’s fantastic news for silver — and long-suffering silver bulls out there,” he said. Industrial silver demand continues climbing in India, China Silver price chart, January 1, 2023, to April 24, 2023.Improved sentiment has coincided with heightened industrial demand, particularly in the Indian market. Overall, silver demand is projected to grow by 2 percent in 2024, with the Silver Institute forecasting that industrial demand will increase by 9 percent — photovoltaics alone are expected to see a 20 percent gain.As mentioned, India in particular has upped its silver purchases in 2024. Its imports came to a record 2,295 metric tons of silver in February, nearly outstripping an entire month of global mine supply. Though purchases have waned as prices have risen, the first four months of the year saw India import more silver than it did for all of 2023.DiRienzo said that while the primary silver demand in India continues to be from the production of jewelry, the precious metal has also benefited from “firmer electrical & electronics demand, thanks to the continued strength in India’s real estate market and rising investment in local infrastructure construction.”Additionally, he noted that Indian manufacturing of solar cells received additional support as companies reduced their reliance on Chinese manufacturing and diversified their supply lines for solar panels.India has been the biggest driver in the photovoltaics category as the country continues building up its domestic solar supply chain through efforts such as its Approved List of Models and Manufacturers, which consists wholly of domestic companies. After a pause due to supply concerns last year, the nation’s government reinstated the mandate as of April 1 of this year — as a result, government-funded and subsidized solar projects in India must source their solar photovoltaic modules from one of the companies included on the list.Even so, China remains the global leader in photovoltaics production. And with new N-Type TopCon panels — which require 50 percent more silver — set to become the industry standard, industrial demand is set to rise even further. Last year, a flagging Chinese economy not only put base metals under pressure, but dragged on silver as well. According to DiRienzo, fiscal stimulus measures implemented by the Chinese government have provided crucial support. “Expectations on further fiscal stimulus for the Chinese economy led to a sharp rebound in base metal prices during 2024-to-date, which has benefited silver,” he said. New silver mine supply won’t outweigh deficit While both retail and industrial demand is growing, it’s not just demand driving prices. Silver is also facing a severe supply crisis as a deficit that began to emerge in 2021 continues to widen, with the Silver Institute forecasting that the deficit will reach 215 million ounces by the end of 2024.According to the Silver Institute, Mexico and Argentina had steep output declines in 2023, with production falling by 10.9 million ounces and 4.9 million ounces, respectively. The Silver Institute predicts that global production will fall further in 2024 to 823.5 million ounces due to the closure of several mines in Peru.While it isn’t expected to eclipse these declines, new silver supply is coming online from various sources this year.The Silver Institute forecasts an increase from Mexico this year now that Newmont’s (TSX:NGT,NYSE:NEM) Peñasquito mine is back at full operating capacity following a strike in 2023. Additionally, Endeavour Silver (TSX:EDR,NYSE:EXK) announced in April that its Terronera project was more than 50 percent complete and on schedule to begin production at the end of 2024. The mine will add 4 million ounces of silver supply to global markets annually. The US is also increasing its silver output this year. Hecla Mining Company’s (NYSE:HL) Lucky Friday mine in Idaho returned to full production in March, while the expansion at Coeur Mining’s (NYSE:CDE) Rochester silver-gold mine in Nevada entered commercial operation at the end of the first quarter. Once fully ramped up, it will be the largest domestic source of silver in the US, processing 32 million metric tons of ore per year.Aya Gold and Silver (TSX:AYA,OTCQX:AYASF) provided an update on progress at its Zgounder mine expansion in Morocco on July 9, announcing it had made the first silver pour. The company said it remains on schedule for commercial production to begin in Q4. Once fully ramped up, the expanded mine is expected to produce 6.8 million ounces of silver per year, a significant increase from its 2023 output of 1.97 million ounces.Despite these new and expanded mining operations bringing significant new silver supply to the market, it’s still a far cry from meeting the more than 200 million ounce deficit. How high can the silver price rise in 2024? While gold tends to garner more of the media attention, silver has already been a stronger performer in 2024. Since its move began this year, a variety of experts have suggested the white metal has further to go. In an interview with INN on July 3, Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, suggested that silver is at a multi-year consolidation. He thinks a run over the next few months to US$36 per ounce is a possibility. Peter Krauth, editor of Silver Stock Investor, told INN on May 24 that silver might experience a slight pullback over the next couple of months, but would likely establish a new floor at US$30. This came to pass as silver traded in the US$29 range in June before stabilizing above US$30 through the first half of July.“We still have the gold-to-silver ratio somewhere around 75; it’s averaged about 55 or 60 over the last few decades, so just on that basis if gold were to stay put, silver has a lot higher to go,” Krauth said. “Typically when you get the ratio running down, both metals do well, but silver continues to do even better … so look for this to be a really tremendous run over the next months and years,” he added.While this might not be good news for manufacturers that require silver and consumers who buy their products, it’s positive news for existing silver investors and new market participants who are looking for opportunities for a safe-haven investment that doesn’t come with the high entry point of gold. There are also opportunities in silver stocks, which have been undervalued in recent years — in fact, many silver stocks have already seen significant gains this year. For example, silver producer Endeavour Silver and advanced development-stage companies GR Silver Mining (TSXV:GRSL,OTCQB:GRSLF) and Defiance Silver (TSXV:DEF,OTCQX:DNCVF) have all gained more than 100 percent from the start of the year through July 9. Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.Affiliate Disclosure: The Investing News Network may earn commission from qualifying purchases or actions made through the links or advertisements on this page.
Author: Investing News Network
Posted: July 16, 2024, 8:45 pm
Copper saw sinking prices toward the end of 2023, but things began to shift in early 2024 as treatment charges at Chinese refiners dropped to single digit lows causing some to cut production.This led to increased momentum in the price of copper as refined product supply became increasingly tight for consumers of the base metal. In April, the price broke the US$10,000 per metric ton and set new all time highs on both the London Metals Exchange and the Chicago Mercantile Exchange. Copper has since retreated and has been trading in the US$9,500 to US$9,800 mark in June and July. Despite recent pullbacks, copper prices are still up significantly year-to-date and markets are expected to see supply deficits over the next several years as demand from energy transition sectors continue to grow. Australian investors wanting to benefit from surging copper prices don’t need to look any further than the ASX, which hosts some of the largest copper companies in the world. Learn about the five biggest copper companies on the ASX by market cap below. All market cap and share price information was obtained on July 15, 2024, using TradingView’s stock screener. 1. BHP (ASX:BHP) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”BHP Group Ltd”,”url”:”https://www.bhp.com”,”description”:”BHP is a global diversified miner mainly supplying iron ore, copper, and metallurgical coal. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore, Queensland coking coal, and Escondida copper. Onshore U.S. oil and gas assets were sold in 2018 and the remaining Petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. BHP is growing its nickel business to supply more battery grade nickel and is also entering the potash market through the development of its Jansen mine in Canada.”,”tickerSymbol”:”ASX:BHP”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=31374594&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=31374594&width=210″} Company Profile Market cap: AU$220.04 billion; share price: AU$43.67 BHP is a global copper producer with operating copper mines in Australia, Chile and Peru, as well as the Resolution copper project in the US. In addition to its copper operations, BHP is a significant producer of a variety of resources including iron ore, nickel, metallurgical coal, potash and uranium.The company’s Australian copper mine is the massive Olympic Dam operation in South Australia, which also produces gold and uranium as by-products. In 2023, BHP acquired South Australia-based OZ Minerals, which owned the Prominent Hill and Carrapateena copper mines, strengthening BHP’s Australian copper portfolio.In Chile, the company operates the 57.5 percent owned Escondida mine — the world’s largest copper producer — and the wholly owned Pampa Norte operations. BHP also owns 33.75 percent of the Antamina copper-zinc mine in Peru, although it is not the operator.This past April, BHP made a US$39 billion bid for rival Anglo American (LSE:AAL,OTCQX:AAUKF), which would have created the largest mining company in the world. Due to the complexities of the deal, BHP proposed spinning out Anglo American’s South African properties into a separate company. However, Anglo said the terms of the proposal significantly undervalued the company and the bid was officially rejected on May 29. Although this doesn’t necessarily mark the end of BHP’s acquisition attempts, the company will need to wait until November before it can launch a subsequent takeover bid. 2. Capstone Copper (ASX:CSC) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Capstone Copper Corp.”,”url”:”http://www.capstonemining.com”,”description”:”Capstone Copper Corp is a company that mines, explores, and develops mineral properties in the Americas. Specifically, the group has operating mines in the US, Mexico, and Canada, and development projects in Chile and Canada. Capstone’s main focus is copper, but the company also produces zinc, lead, molybdenum, silver, and gold.”,”tickerSymbol”:”TSX:CS”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=30828222&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=30828222&width=210″} Company Profile Market cap: AU$8.51 billion; share price: AU$11.53 Newly listed on the ASX in February 2024, Capstone Copper is a mining company with a portfolio of assets located in the US, Mexico and Chile. The company is also listed on the TSX.Capstone’s 100 percent owned Pinto Valley copper mine in Arizona, US, is fully permitted until 2039 and is expected to produce 58,000 to 64,000 tonnes of copper in 2024. Capstone acquired Pinto Valley from BHP in 2013, and the mine has produced more than 4 billion pounds of copper since it began operating in 1972. It also is the sole owner of the Cozamin copper and silver mine in Zecatacas, Mexico, which boasts a 1,000 tonne per day throughput and is projected to generate 22,000 to 24,000 tonnes of copper in 2024, as well as the Mantos Blancos copper mine in Antofagasta, Chile, which underwent an expansion in 2021 to extend its mine life significantly.The company also owns a 70 percent stake in the Mantoverde mine in the Atacama region of Chile, with the remaining 30 percent owned by Mitsubishi Materials (OTC Pink:MIMTF,TSE:5711). The mine is currently in the process of ramping up to commercial production, and Capstone announced on June 25 that it produced its first saleable copper concentrate. Capstone expects to achieve nameplate operating rates during Q3 of 2024. 3. Sandfire Resources (ASX:SFR) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Sandfire Resources”,”url”:”https://investingnews.com/stocks/au-sfr/sandfire-resources/”,”description”:”Sandfire is a copper-focused mineral exploration and development company.”,”tickerSymbol”:”AU:SFR”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=50743782&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=50743782&width=210″} Company Profile Market cap: AU$4.13 billion; share price: AU$9.21Sandfire Resources is a copper mining and developing company with a global portfolio of assets. Sandfire’s DeGrussa copper-gold operations in Western Australia were depleted in 2022 and entered care and maintenance in 2023, with the company now working to rehabilitate the site.Sandfire’s primary production now comes from its the MATSA copper, lead and zinc mine in the province of Huelva, Spain. The site boasts a processing capacity of 4.7 million tonnes per annum, and in the March quarter produced 115,099 tonnes of copper concentrate. Sandfire also owns the Motheo operations in the Kalahari Copper Belt in Botswana. The asset consists of multiple open pits and is currently in the advanced stages of ramping up to production from its A4 open pit and mill. In the March quarter, Motheo produced 36,597 tonnes of copper concentrate and achieved a mill rate of 1.18 million tonnes of ore. In addition to its producing assets, Sandfire also has been working to advance its Black Butte project in Montana, US. Work on the project stalled in 2021 after a district court revoked a Department of Environmental Quality mining permit for the site. The company subsequently filed a claim against the Department, and on February 26 of this year, it announced the decision was overturned by the Montana Supreme Court and permits for the site were reinstated.Sandfire is working to improve Black Butte’s economics as it works towards a final investment decision. The most recent update from the project came on April 30, when the company released an exploration update that highlighted high-grade copper intercepts of 7.4 percent copper over 9.54 metres, including an intersection of 10.7 percent over 6.26 metres. 4. Metals Acquisition (ASX:MAC) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:” Metals Acquisition”,”url”:”https://investingnews.com/stocks/mac-au/metals-acquisition/”,”description”:”Focused on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy”,”tickerSymbol”:”ASX:MAC”,”sameAs”:[]} Company Profile Market cap: AU$1.6 billion; share price: AU$21.20Another newcomer to this list of biggest copper companies, Metals Acquisition is focused on acquisitions in the metals and mining industry for assets that are critical to the energy transition.The company dual listed on the ASX through an oversubscribed initial public offering that closed in February. The AU$325 million in funds raised by the IPO were the highest for a mining company on the ASX since July 2021, according to its press release.As for its operations, Metals Acquisition’s first acquisition came in June 2023, when it purchased the CSA copper mine in New South Wales from Glencore (LSE:GLEN,OTC Pink:GLCNF). The mine is one of the oldest operating copper mines in Australia with production dating back more than 150 years, and it is one of the deepest at 1.9 kilometres.In the company’s March quarter update, it said that it had significantly extended the life of the CSA mine from 6 to 11 years. Metals Acquisition also released production guidance for the next three years indicating a steady increase from 38,000 to 43,000 tonnes of copper in 2024, 43,000 to 48,000 tonnes in 2025 and 48,000 to 53,000 tonnes in 2026. 5. Develop Global (ASX:DVP) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Develop Global”,”url”:”https://investingnews.com/stocks/au-dvp/develop-global/”,”description”:”Develop Global Ltd, formerly Venturex Resources Ltd is an Australian company focused on the exploration and development of its advanced zinc-copper projects located near Port Hedland in the premier…”,”tickerSymbol”:”AU:DVP”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.jpg?id=50743799&width=980″,”logo”:”https://investingnews.com/media-library/image.jpg?id=50743799&width=210″} Company Profile Market cap: AU$547.07 million; share price: AU$2.10Unlike the other companies on this list, Develop Global is not yet a producer of copper; instead, it is developing its three copper projects in Australia with the goal of supplying the clean energy transition. Develop is working towards a potential mine restart for its past-producing Woodlawn zinc-copper project in New South Wales, which closed in 1998. In August 2023, the company reported the discovery of significant high-grade mineralisation, saying it will be incorporated into an updated resource estimate slated for release in the first quarter of 2024. The updated mineral resource estimate will inform the final mine plan.Its two other projects are located near Port Hedland, Western Australia. The first is its Sulphur Springs project, a near-term volcanogenic massive sulphide project that contains copper, zinc and silver across its Sulphur Springs and Kangaroo Caves deposits.Its final project is the past-producing Whim Creek copper-zinc project, which Develop owns through a 20/80 joint venture with Anax Metals (ASX:ANX). The site hosts refurbished heap infrastructure for mineral processing.On May 30, 2024, the two companies provided an update on a scoping study investigating processing ore from Sulphur Springs using heap leaching at the nearby Whim Creek project. In the announcement they said tests had demonstrated excellent leaching abilities with high grade transitional and oxide copper recoveries between 80 and 95 percent along with high grade zinc recoveries between 95 and 99 percent. FAQs for ASX copper stocks How much is copper worth? The copper price is tracked in two ways: COMEX copper and London Metal Exchange (LME) copper. The COMEX and LME are both options and futures metal exchanges, with the former being headquartered in New York and the latter in London. COMEX copper is priced by the pound, while LME copper is priced per tonne.In 2022, copper saw historically high prices. In Q1 and most of Q2, copper prices on the COMEX ranged between US$4.10 and US$4.89 ⁠— an all-time high. For the same time period on the LME, copper moved between US$9,000 and US$10,730. What are the uses of copper? Copper is used in many industries, from construction to electronics to medical equipment. In fact, in 2021, 32 percent of copper globally was used in equipment manufacturing and 28 percent in building construction.Two other growing sectors for copper are the burgeoning electric vehicle and green energy industries. Electric vehicles require a significant amount of the red metal per vehicle. How to invest in copper on the ASX? Investors have access to a wide variety of Australian copper companies on the ASX, from copper miners to copper explorers. This means that investors can choose what kind of company matches their risk appetite and portfolio.When looking for a copper company to invest in, be sure to do your due diligence and learn about the company, its team, its finances and the geology of its projects. Once you’ve selected a company or companies to invest in, you can buy copper stocks using trading apps with access to ASX stocks, as well as with the help of stock brokers.Click here to learn which ASX-listed copper stocks have gained the most year-to-date. Is there a copper ETF on the ASX? In November 2022, the ASX welcomed its first copper ETF: the Global X Copper Miners ETF (ASX:WIRE). It is designed to track the performance of companies that have, or are expected to have, significant exposure to the copper industry. This is an updated version of an article first published by the Investing News Network in 2018.Don’t forget to follow us @INN_Australia for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 16, 2024, 8:40 pm
Will First Majestic Silver CEO’s silver price prediction of more than US$100 per ounce come true?The silver spot price made waves in 2020 when it rose above US$20 per ounce for the first time in four years, and the precious metal has repeatedly tested US$30 per ounce since. Most recently, the silver price broke through the US$30 mark on May 17 and went on reach a nearly 12-year high of US$31.80 in the next trading session. On May 19, the silver price hit US$32.33 per ounce, which remains its highest point as of July 5.Well-known figure Keith Neumeyer, CEO of First Majestic Silver (TSX:FR,NYSE:AG), has frequently said he believes the white metal could climb even further, to hit the US$100 mark or even reach as high as US$130 per ounce.Neumeyer has voiced this opinion often in recent years. He put up a US$130 price target in a November 2017 interview with Palisade Radio, and he also discussed it in an August 2022 interview with Wall Street Silver. He has reiterated his triple-digit silver price forecast in multiple interviews with Kitco over the years, as recently as March 2023. So far this year, Neumeyer has made his US$100 call in a conversation with ITM Trading’s Daniela Cambone at the Prospectors & Developers Association of Canada (PDAC) convention; and in April he acknowledged his reputation as the “triple-digit silver guy” on the Todd Ault Podcast.He believes silver could hit US$100 due to a variety of factors, including its consistent deficit, its industrial demand and how undervalued it is compared to gold.At times he’s been even bolder, suggesting in 2016 that silver could reach US$1,000 if gold were to hit US$10,000. More recently, his expected timeline for US$100 silver has been pushed back, but he remains very bullish on the metal in the long term.In order to better understand where Neumeyer’s opinion comes from and whether a triple-digit silver price is really in the cards, it’s important to take a look at the factors that affect the metal’s movements, as well as where prices have been in the past and where other industry insiders think silver could be headed. First, let’s dive a little deeper into Neumeyer’s US$100 prediction. Why is Neumeyer calling for a US$100 silver price? There’s a significant distance for silver to go before it reaches the success Neumeyer has boldly predicted. In fact, in order for the precious metal to jump to the US$100 mark, its price would have to increase from its current value by around 350 percent.Neumeyer has previously stated that he expects a triple-digit silver price in part because he believed the market cycle could be compared to the year 2000, when investors were sailing high on the dot-com bubble and the mining sector was down. He thinks it’s only a matter of time before the market corrects, like it did in 2001 and 2002, and commodities see a big rebound in pricing. It was during 2000 that Neumeyer himself invested heavily in mining stocks and came out on top.“I’ve been calling for triple-digit silver for a few years now, and I’m more enthused now,” Neumeyer said at an event in January 2020, noting that there are multiple factors behind his reasoning. “But I’m cautiously enthused because, you know, I thought it would have happened sooner than it currently is happening.”In his August 2022 with Wall Street Silver, he reiterated his support for triple-digit silver and said he’s fortunately not alone in this optimistic view — in fact, he’s been surpassed in that optimism. “I actually saw someone the other day call for US$500 silver,” he said. “I’m not quite sure I’m at the level. Give me US$50 first and we’ll see what happens after that.”Another factor driving Neumeyer’s position is his belief that the silver market is in a deficit. In a May 2021 interview, when presented with supply-side data from the Silver Institute indicating the biggest surplus in silver market history, Neumeyer was blunt in his skepticism. “I think these numbers are made up,” he said. “I wouldn’t trust them at all.” He pointed out that subtracting net investments in silver exchange-traded products leaves the market in a deficit, and also questioned the methodology behind the institute’s recycling data given that most recycled silver metal comes from privately owned smelters and refineries that typically don’t make those figures public.”I’m guessing the mining sector produced something in the order of 800, maybe 825 million ounces in 2022,” Neumeyer said when giving a Q4 2022 overview for his company. “Consumption numbers look like they’re somewhere between 1.2 and 1.4 billion ounces. That’s due to all the great technologies, all the newfangled gadgets that we’re consuming. Electric vehicles, solar panels, windmills, you name it. All these technologies require silver … that’s a pretty big (supply) deficit.”In a December 2023 interview with Kitco, Neumeyer stressed that silver is more than just a poor man’s gold and he spoke to silver’s important role in electric vehicles and solar cells.In line with its view on silver, First Majestic is a member of a consortium of silver producers that in January 2024 sent a letter to the Canadian government urging that silver be recognized as a critical mineral. Silver’s inclusion on the list would allow silver producers to accelerate the development of strategic projects with financial and administrative assistance from the Canadian government. Canada’s critical minerals list is expected to get an update in the summer of 2024.In his 2024 PDAC interview, Neumeyer once again highlighted this sizable imbalance in the silver’s supply-demand picture. “We’re six years into this deficit. The deficit in 2024 looks like it’s gonna be bigger than 2023, and why is that? Because miners aren’t producing enough silver for the needs of the human race,” he said.More controversially, Neumeyer is of the opinion that the white metal will eventually become uncoupled from its sister metal gold, and should be seen as a strategic metal due to its necessity in many everyday appliances, from computers to electronics, as well as the technologies mentioned above. He has also stated that silver production has gone down in recent years, meaning that contrary to popular belief, he believes the metal is actually a rare commodity.Neumeyer’s March 2023 triple-digit silver call is a long-term call, and he explained that while he believes gold will break US$3,000 this year, he thinks silver will only reach US$30 in 2023. However, once the gold/silver ratio is that unbalanced, he believes that silver will begin to take off, and it will just need a catalyst.”It could be Elon Musk taking a position in the silver space,” Neumeyer said. “There’s going to be a catalyst at some time, and headlines in the Wall Street Journal might talk about the silver supply deficit … I don’t know what the catalyst will be, but investors and institutions will wake up to the fundamentals of the metal, and that’s when it will start to move.”In an August 2023 interview with SilverNews, Neumeyer discussed his belief that banks are holding the silver market down. He pointed to the paper market for the metal, which he said the banks have capped at US$30 even in times of high buying. “If you want to go and buy 100 billion ounces of silver (in the paper market), you might not even move the price because some bank just writes you a contract that says (you own that),” he explained, saying banks are willing to get short, because once the buying stops, they push the price down to get the investors out of the market and buy the silver back. “… If the miners started pulling their metal out of the current system, then all of a sudden the banks wouldn’t know if they’re going to get the metal or not, so they wouldn’t be taking the same risks they’re taking today in the paper markets.”The month after the interview, his company First Majestic launched its own 100 percent owned and operated minting facility, named First Mint. So far into 2024, gold has seen a resurgence in investor attention as the potential for Fed rate cuts nears closer. In his interview with Cambone at PDAC 2024, Neumeyer countered that perception, stating, “There’s a rush into gold because of the de-dollarization of the world. It has nothing to do with the interest rates.” What factors affect the silver price? In order to glean a better understanding of the precious metal’s chances of trading around the US$100 range, it’s important to examine the elements that could push it to that level or pull it further away.The strength of the US dollar and US Federal Reserve interest rate changes are factors that will continue to affect the precious metal, as are geopolitical issues and supply and demand dynamics. Although Neumeyer believes that the ties that bind silver to gold need to be broken, the reality is that most of the same factors that shape the price of gold also move silver.For that reason, it’s helpful to look at gold price drivers when trying to understand silver’s price action. Silver is, of course, the more volatile of the two precious metals, but nevertheless it often trades in relative tandem with gold.Looking first at the Fed and interest rates, it’s useful to understand that higher rates are generally negative for gold and silver, while lower rates tend to be positive. That’s because when rates are higher interest shifts to products that can accrue interest.When the COVID-19 pandemic hit, the Fed cut rates down to zero from 1 to 1.25 percent. However, rising inflation has led the Fed and other central banks to hike rates, which has negatively impacted gold and silver. In February 2023, the Fed raised rates by just 25 basis points, the smallest hike since March 2022, as Chair Jerome Powell said the process of disinflation has begun. The Fed continued these small rate hikes over the next year with the last in July 2023.In this latest upward cycle of the silver market, Fed interest rate moves are playing an oversized role in pumping up silver prices. In early July, as analysts factored in the rising potential for interest rate cuts in the remainder of 2024, silver prices were once again testing May’s nearly 12-year high. While central bank actions are important for gold, and by extension silver, another key price driver lately has been geopolitical uncertainty. The past few years have been filled with major geopolitical events such as tensions between the US and other countries such as North Korea, China and Iran. More recently, the huge economic impact of the COVID-19 pandemic, Russia’s war with Ukraine, the banking crisis in early 2023 and rising tensions in the Middle East brought about by the Israel-Hamas war have been sources of concern for investors.On a separate note, there is also a strong case to made for the metal’s industrial potential. Higher industrial demand from emerging sectors due to factors like the transition to renewable energy and the emergence of AI technology will be highly supportive for the metal over the next few years. Solar panels are an especially exciting sector as manufacturers have found increasing the silver content increases energy efficiency. Speaking with the Investing News Network (INN) in late June, Chen Lin of Lin Asset Management said that solar panels represent a “killer app” for silver–a technological application that will lead to a strong surge in demand. Lin pointed a new report from Bernreuter Research that sees global photovoltaic (PV) installations rising from 444 GW in 2023 to a range of 600 GW to 660 GW of newly installed solar capacity in 2024. Could silver hit $100 per ounce? While we can’t know if we’ll reach a $100 per ounce silver price in the near future, there is support for Neumeyer’s belief that the metal is undervalued and that “ideal conditions are present for silver prices to rise.”Many are on board with Neumeyer in the idea that silver’s prospects are bright, including Peter Krauth of Silver Stock Investor, who believes that “we are very likely going to experience the greatest silver bull market of our generation.”So, if the silver price does rise further, how high will it go? Let’s look at silver’s recent history. The highest price for silver was just under US$50 in the 1970s, and it came close to that level again in 2011. The commodity’s price uptick came on the back of very strong silver investment demand.After spending the latter half of the 2010s in the teens, the 2020s have seen silver largely hold above US$20. In August 2020, the price of silver reached nearly US$28.50 before pulling back again, and moved back up near those heights in February 2021. The price of silver saw a 2022 high point of US$26.46 in February, and passed US$26 again in both May and November 2023. Silver rallied in the later part of the first quarter of 2024, and by April 12 was once again flirting with the US$30 mark as it reached an 11 year high of US$29.26. Despite a brief pull back to the US$26 level, the month of May saw the silver price take another run at US$30, this time successfully pushing into US$32 territory on May 19. As of July 5, silver prices have remained rangebound, trading between US$28.50 and $31.50 per ounce. Why is silver going up? Despite the Fed’s seeming reluctance to reverse course on interest rates, the white metal is also being supported by expectations that China will soon unveil new concrete stimulus targets to help the nation achieve its 5 percent growth target for 2024, according to Trading Economics. The firm notes that silver is seeing increased demand from the solar panel market as well.Analyst firm Metals Focus has pointed out that the silver market is expected to post a substantial deficit in 2024 of 215.3 million ounces, the second highest in over 20 years. What do other experts think about US$100 silver? Many experts in the space expect silver to perform strongly in the years to come, but don’t necessarily see it reaching US$100 or more, especially given the current macroeconomic conditions.As mentioned, some experts, including Krauth, agree with the triple digit silver hypothesis. In a May 2022 interview with INN, he explained that there are multiple paths silver could take to get to the triple digits.”As I was doing my research, and this goes back over several years already, I would get to that US$300 forecast for an ultimate high in the silver price in different ways,” he said, and broke down what a low gold/silver ratio — like we’ve seen the previous times that silver has peaked — could mean for the metal’s price in the future.Speaking to INN in late December 2023, Krauth was looking forward to a rally in silver for 2024. “One of the most significant (events) for me was when we saw almost the entire US Treasury yield curve peak above 5 percent in mid-October,” he said. “Since then, we’ve had the US Dollar Index peak at 107. Both of these have fallen considerably since, I believe in the market’s view that the Fed has stopped hiking rates, with the expectation that rate cuts will come sometime in 2024.”In his December interview with INN, Krauth predicted silver could move close to the US$30 mark in the second half of 2024, and it has now surpassed that. The following month, at the Vancouver Resource Investment Conference (VRIC), Krauth made his own triple-digit silver call when he suggested silver could climb to over US$300 by 2030.Speaking with INN at PDAC in March, Krauth said he sees a serious secondary silver supply shortfall emerging over the next 18 months to two years, which will cause the sector to “wake up in a big way.”For his part, Chen Lin of Lin Asset Management told INN in June that he thinks US$50 silver is a possibility once the market finally begins to factor in the growing supply-demand gap. As Lin sees it silver miners have cut production in recent years as they struggled to remain profitable in the lower silver price landscape. This decline in mine supply poses a problem for rising industrial demand for silver. Breaking through the historic US$50 ceiling will likely happen in quick, sharp daily spikes in the modern AI trading environment, he said, and it could potentially be “the first step” toward even higher silver prices, including $100 silver. “The key is that people really fully understand and appreciate the actual (supply) deficit of silver,” Lin noted. FAQs for silver What is the silver price outlook after $30 in 2024? In 2024, the silver price has finally broken through the long anticipated US$30 mark, a catalyst experts have discussed heavily in recent years.In June 2024, after silver passed the US$30 mark, David Morgan of the Morgan Report shared his thoughts on silver in 2024 with INN. “What do I expect for the rest of 2024? I’m going to be conservative … I’m going to say I think we’ll still be in the US$30s — probably in the mid-US$30s,” he said. “I don’t really think silver is going to be in the US$40s by the end of the year. People make arguments that it’ll be US$50, and it could be. But I’m going to remain conservative.”Peter Krauth told INN that month that he believes that even if silver tests slightly lower levels, US$30 will be established as a new floor for silver. While the metal did test US$29 in June, it has largely held above US$30 in July.So why is the US$30 level so important for silver? Here’s what experts have told INN in the past. Back in February 2022, David Morgan told INN he thought there was potential for silver to hit US$50 in the short term, as high levels of stock market volatility could make the white metal more attractive to investors and might drive it up over the US$30 mark.”Once silver gets above US$33 and it stays there for three or four days — or better yet, even two or three weeks — there’s not much holding it back to hit US$50 again,” he said at the time.While silver didn’t cross that mark in 2022, Morgan shared concerns about what would happen once it did in his forecast for 2023. “Last time we got near US$30, very close to it, Rostin Behnam of the (Commodity Futures Trading Commission) came out and said they had to tamp down the silver market. What kind of a free market is that?”Gareth Soloway, chief market strategist at VerifiedInvesting.com, is another analyst who was confident silver had the potential to break the US$30 per ounce level and move higher in 2024.”I continue to think that we’re going to go up here and test US$30, which is that key resistance from 2020,” he told INN in an April 2024 interview. “Once we get to US$30 we have to reevaluate. But I do think again, whether we get a small pullback or not, we’re destined to go to US$30. And down the line if gold goes to US$3,000 you’re going to see silver go higher than US$30 as well.” Can silver hit $1,000 per ounce? In 2016, Neumeyer predicted that silver could hit $1,000 per ounce if gold ever climbed to US$10,000 per ounce. This is related to the gold to silver production ratio discussed above, which at the time of the prediction was around 1 ounce of gold to 9 ounces of silver and last year was about 1:8.3. If silver was priced according to production ratio today, when gold is at US$2,000 silver would be around US$240, or US$222 at 1:9. However, the gold to silver pricing ratio has actually sat around 1:80 to 1:90 recently, and when gold moved above US$2,400 in May 2024, silver was around US$32. Additionally, even if pricing did change drastically to reflect production rates, gold would need to climb by more than 300 percent from its current price to hit the US$10,000 Neumeyer mentioned back in 2016. As things are now, it seems unlikely silver will reach those highs. ​Why is silver so cheap? The primary reason that silver is sold at a significant discount to gold is supply and demand, with more silver being mined annually. There is an abundance of silver — according to the US Geological Survey, to date 1,740,000 metric tons (MT) of silver have been discovered, while only 244,000 MT of gold have been found, a ratio of about 1 ounce of gold to 7.1 ounces of silver. In terms of output, 26,000 MT of silver were mined in 2023 compared to 3,000 MT for gold. Looking at these numbers, that puts gold and silver production at about a 1:8.7 ratio last year, while the price ratio at the end of February 2024 was around 1:90 — a huge disparity. While silver does have both investment and industrial demand, the global focus on gold as an investment vehicle, including countries stockpiling gold, can overshadow silver. Additionally, jewelry alone is a massive force for gold demand. ​Is silver really undervalued? Many experts believe that silver is undervalued at under US$30 compared to fellow currency metal gold. As discussed, their production and price ratios are currently incredibly disparate. While investment demand is higher for gold, silver has seen increasing time in the limelight in recent years, including a 2021 silver squeeze that saw new entrants to the market join in. Another factor that lends more intrinsic value to silver is that it’s an industrial metal as well as a precious metal. It has applications in technology and batteries — both growing sectors that will drive demand higher. Silver’s two sides has been on display in recent years: Silver demand hit record highs in 2022, according to the Silver Institute, with physical silver investment rising by 22 percent and industrial by 5 percent over 2021. For 2023, industrial demand was up 11 percent over the previous year, compared to 28 percent decline in physical silver investment. ​Is silver better than gold? There are merits for both metals, especially as part of a well-balanced portfolio. As many analysts point out, silver has been known to outperform its sister metal gold during times of economic prosperity and expansion.On the other hand, during economic uncertainty silver values are impacted by declines in fabrication demand.Silver’s duality as a precious and industrial metal also provides price support. As a report from the CPM Group notes, “it can be seen that silver in fact almost always (but not always) out-performs gold during a gold bull market.” At what price did Warren Buffet buy silver? Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) bought up 37 percent of global silver supply between 1997 and 2006. Silver ranged from US$4 to US$10 during that period.In fact, between July 1997 and January 1998 alone, the company bought about 129 million ounces of the metal, much of which was for under US$5. Adjusted for inflation, the company’s purchases in that window cost about US$8.50 to US$11.50. ​How to invest in silver? There are a variety of ways to get into the silver market. For example, investors may choose to put their money into silver-focused stocks by buying shares of companies focused on silver mining and exploration. As a by-product metal, investors can also gain exposure to silver through some gold companies. There are also silver exchange-traded funds that give broad exposure to silver companies and the metal itself, while more experienced traders may be interested in silver futures. And of course, for those who prefer a more tangible investment, purchasing physical bullion in silver bar and silver coin form is also an option.Private investor Don Hansen shared his strategies with INN for investing in precious metals, as well as a guide for building a low-risk gold and silver portfolio. This is an updated version of an article originally published by the Investing News Network in 2016.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Author: Investing News Network
Posted: July 16, 2024, 8:35 pm
Major miner Barrick Gold (TSX:ABX,NYSE:GOLD) reported preliminary Q2 production numbers on Tuesday (July 16), indicating that it remains on track to hit its output targets for the rest of the year.The company produced 948,000 ounces of gold and 43,000 metric tons of copper during the period, with sales figures slightly higher at 956,000 ounces of gold and 42,000 metric tons of copper.The numbers put Barrick on track to meet its 2024 guidance for both metals, which is set at 3.9 million to 4.3 million ounces of gold and 180,000 to 210,000 metric tons of copper. According to the company, Q2 gold production was up compared to Q1 due to a number of factors. Barrick pointed to increased output at Turquoise Ridge, which is part of the Nevada Gold Mines joint venture with Newmont (TSX:NGT,NYSE:NEM), the continued ramp-up of Porgera and “significant increases” at Tongon, North Mara and Kibali.These improvements offset planned lower production at Cortez and Phoenix. Meanwhile, the Pueblo Viejo mine’s production remained flat, although efforts to optimize recovery rates will be a focus in H2. Compared to Q1, Barrick’s gold cost of sales per ounce and total cash costs per ounce are projected to be 0 to 2 percent higher. Total cash costs were impacted by the surge in the gold price in Q2, which led to higher royalties.All-in sustaining costs per ounce are expected to be 1 to 3 percent higher. However, Barrick said these costs are anticipated to decline in the latter half of the year as production continues to ramp up.Barrick’s copper production also increased in Q2, primarily due to higher grades and recoveries at Lumwana following the ramp up of stripping activities and a planned shutdown in Q1. The copper cost of sales per pound in Q2 is expected to be lower, in contrast to all-in sustaining costs per pound, which are expected to be 1 to 3 percent higher. As with gold, copper costs are expected to drop in the second half of the year.Barrick will provide a detailed analysis of its Q2 production and sales numbers when it reports its quarterly results on August 12, followed by a live presentation from President and CEO Mark Bristow.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 16, 2024, 4:30 pm
Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Ngarluma Aboriginal Corporation (NAC) announced on Monday (July 15) that they will join hands to pursue the development of an 80 megawatt solar farm.The project is the first initiative under a memorandum of understanding that seeks to explore opportunities for renewable energy projects on Ngarluma Country, located in Western Australia’s Pilbara region. The solar farm is expected to sit next to the Yurralyi Maya power station, one of Rio Tinto’s four major power plants in Western Australia. Once complete, it is projected to reduce the company’s CO2 footprint to 120,000 tonnes per year.Power from the solar farm will be used to supply Rio Tinto’s iron ore operations in the Pilbara region. The company is one of the world’s biggest producers of the commodity, with 17 mines located in the area. According to a press release, the project “has the potential to displace up to 11 percent of natural gas currently used for generation across Rio Tinto’s integrated mining operations in the Pilbara.”By 2030, approximately 600 to 700 megawatts of renewable energy will be required to significantly reduce gas consumption across Rio Tinto’s Pilbara power network. More renewable energy will be needed to support the electrification of fleets thereafter, as per Tuesday’s press release. Richard Cohen, Rio Tinto’s managing director for rail, port and core services, noted that developments like the solar farm aren’t just about reducing emissions — they also strengthen the company’s connection with the Ngarluma people.“This project underscores the significance of our long-term relationship with the Ngarluma people and demonstrates our commitment to working together to contribute to a more sustainable future,” he added. NAC CEO Ljuba Mojovic also shared her sentiments, stating that the project “will enable NAC to realize sustainable revenues, increase contracting opportunities and contribute to a positive environmental impact in the Pilbara.”A feasibility study for the solar farm is slated for completion in early 2025. Following the necessary approvals and final investment decision, commissioning is projected to happen in 2027.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle Luisa de la Cruz, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 16, 2024, 4:25 pm
Welcome to our monthly round-up of the LBMA OTC trading volumes in gold, silver, platinum and palladium, as recorded on a daily basis by the Association.
Author: StoneX
Posted: July 16, 2024, 3:13 pm
Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, shared his next price target for gold, as well as his outlook for silver and precious metals miners in the months and years to come. While he expects a stock market correction to weigh on these assets, they are set to perform well before and after.”When I’m looking at the daily chart of gold, it is pointing to about US$2,650 to US$2,750 (per ounce) for gold over the next two to three months. So I’m still very bullish on gold,” Vermeulen said during the conversation. Watch the interview above for his full thoughts on those and other topics. Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Author: Investing News Network
Posted: July 15, 2024, 8:55 pm
Market participants braced for volatility on Monday (July 15), gravitating toward safe-haven assets following an assassination attempt on former US President Donald Trump over the weekend. Gold closed at US$2,411.23 per ounce on Friday (July 12) and rose as high as US$2,433.32 on Monday (July 15). The price of Bitcoin also increased, hitting a two week high of US$62,698. Meanwhile, Trump Media & Technology Group’s (NASDAQ:DJT) share price leaped by 31.8 percent to close at US$40.58 on Monday. The company is owned by Trump and runs the social network Truth Social. The assassination attempt occurred at a rally in Pennsylvania on Saturday (July 13). A shot hit Trump’s right ear, and he was quickly taken off stage; his campaign later reported that he sustained only a minor wound.One rally attendee was killed, while two others were critically injured. The Federal Bureau of Investigation is treating the incident as an assassination attempt, and although the shooter has been identified, the investigation is ongoing. Expect volatility for risk assets, market experts say Speaking to Bloomberg after the incident, Frank Monkam, senior portfolio manager at Antimo, said it is likely to be the “grand opening” for market volatility that will primarily affect risk assets.On the flip side, safer sectors are likely to benefit, at least in the near term. Quincy Krosby, chief global strategist at LPL Financial, explained this dynamic to Reuters, saying, “As with any geopolitical event underpinned by mounting concern or outright fear — especially given the opening of the Republican convention — gold would have a strong bid, coupled with a pickup in demand for Treasuries.”The dollar, which has been softening due to the market’s perception that the US Federal Reserve may cut interest rates in September, could gain if the safety trade gains momentum, he told the news outlet. Jack Ablin, chief investment officer at Cresset Capital, highlighted the aggravating role of political violence. “The specter of political violence introduces a whole new level of potential instability. It’s uncertainty and volatility, and of course markets don’t like that. The attempted assassination probably enhances Trump’s reputation for strength,” he said. For his part, Charles-Henry Monchau, chief investment officer at Banque SYZ, focused on the impact that the assassination attempt could have on election results. “Should the election become a landslide victory for Trump, this probably reduces uncertainty, which is positive for risk assets. Meanwhile, this could lead to more upward pressure on bond yields and a steepening of the yield curve,” he commented to Bloomberg. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 15, 2024, 8:45 pm
SolGold (TSX:SOLG,LSE:SOLG,OTC Pink:SLGGF) has entered into a gold stream agreement with Franco-Nevada (TSX:FNV,NYSE:FNV) and Osisko Bermuda to secure US$750 million for its Cascabel project in Ecuador.An initial deposit of US$100 million will be paid in three tranches, and will be allocated to de-risking, permitting and completing a feasibility study. The first tranche, consisting of US$33.4 million, is expected on Monday (July 15). The second and third tranches, each set at US$33.3 million, are expected in 2025, and are contingent on specific conditions being met, such as finalizing an investment protection agreement and submitting permit applications. A construction deposit of US$650 million will fund the project’s development, subject to milestones and approvals.In exchange for the funding package, Franco-Nevada and Osisko Bermuda will receive 20 percent of Cascabel’s recovered gold in concentrate until 750,000 ounces are delivered, then 12 percent for the remainder of the mine’s life. They will make ongoing payments to SolGold equivalent to 20 percent of the spot gold price at the time each ounce is delivered. The agreement includes a staged buyback option, allowing SolGold to reduce the gold stream by 50 percent within three years of the deal’s closing date, or by 33.33 percent until the fifth anniversary of the closing date. According to SolGold, the financing package validates Cascabel’s potential as a world-class copper-gold project, and will contribute significantly to the estimated US$1.55 billion needed for its construction. A prefeasibility study released this past February projects an after-tax net present value of US$3.2 billion and an internal rate of return of 24 percent.”We are thrilled to finalize this transformative US$750 million gold stream with Franco-Nevada and Osisko. We are committed to advancing our operations responsibly and efficiently, and this partnership is a testament to our progress to date and the promising future ahead,” said SolGold CEO Scott Caldwell in the company’s press release. SolGold’s next steps include geotechnical drilling of a tailings storage facility, metallurgical testing and securing land access rights in collaboration with the Ecuadorian government.Shares of Solgold rose 18.75 percent on the TSX on Monday to close at C$0.19. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 15, 2024, 4:25 pm
Major mining companies are intensifying their search for new deals and projects.Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and BHP (ASX:BHP,LSE:BHP,NYSE:BHP) are both reportedly exploring potential acquisitions to expand their portfolios, people familiar with the companies said last week. Sky News said on July 12 that the former is currently evaluating a list of potential takeover targets, including Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK). Rio Tinto has reportedly approached banks for financing options.Teck is a Canadian mining company that recently sold its steelmaking coal unit to Glencore (LSE:GLEN,OTC Pink:GLCNF), another mining behemoth, for US$6.9 billion; Teck is valued at nearly C$35 billion.Meanwhile, BHP, in the wake of its failed US$49 billion acquisition of rival Anglo American (LSE:AAL,OTCQX:AAUKF), is exploring a joint bid with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) for copper miner Filo (TSX:FIL,OTCQX:FLMMF). Reuters states that discussions are at an early stage, and there is no guarantee the companies will proceed with a bid.Filo’s market cap stands at US$2.52 billion. A potential merger between Lundin’s Josemaria project and Filo’s Filo del Sol project is under consideration, with the cost of combining infrastructure estimated at US$5 billion to US$8 billion.Through its unsuccessful bid for Anglo American, BHP was aiming to secure the company’s copper assets in Latin America. Copper is key metal for the global shift toward clean energy and electric vehicles. The deal collapsed due to structural complexities and regulatory risks, particularly in South Africa. BHP’s offer required Anglo American to divest its South African platinum and iron ore businesses, which the latter deemed too risky.This M&A activity highlights the growing preference among major miners to acquire rather than develop new assets.Lundin’s possible collaboration with BHP also reflects the growing copper sector crunch as miners seek to secure supply amid reports of an impending shortage of the red metal through 2050.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Author: Investing News Network
Posted: July 15, 2024, 4:20 pm

Cryptocurrencies

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Priced around $57,500 in mid-July, bitcoin is up nearly 90% in 2024 alone. Its market capitalization is well over $1 trillion. With all that growth, it’s worth asking what comes next for bitcoin. Many…
Author: GOBankingRates
Posted: July 14, 2024, 6:00 pm
Cryptocurrency markets got rattled earlier this week after the price of bitcoin fell to a four-month low, partly because of problems tied to a crypto company. The events led to new worries about…
Author: GOBankingRates
Posted: July 10, 2024, 11:55 am
Cryptocurrency is an emerging industry that has experienced recent rapid growth
Author: GOBankingRates
Posted: June 29, 2024, 10:00 pm
Learn how to comply with MiCA, the new EU crypto regulation, through guidance covering its implementation phases, provider obligations, and impact on innovation.
Author: Tony Sio
Posted: June 28, 2024, 6:36 pm
Mark Cuban is well-known for his outspoken views and advice on topics that range from politics to investing. The self-made billionaire doesn’t hold back when sharing his two cents on how folks can…
Author: GOBankingRates
Posted: June 27, 2024, 5:00 pm
The rapid surge of artificial intelligence (AI) is continuing to change the way we live in several ways. From how we work to how we learn, AI is streamlining everything and making processes more rapid…
Author: GOBankingRates
Posted: June 18, 2024, 7:00 pm
Learn essential crypto tips from experts on using trusted exchanges, maximizing gains, understanding taxes, diversifying portfolios, and avoiding scams.
Author: GOBankingRates
Posted: June 17, 2024, 6:00 pm
Learn how crypto millionaires made their fortunes through investing, memecoins, mining, trading, and participating in the crypto economy.
Author: GOBankingRates
Posted: June 15, 2024, 11:00 pm
In Bitcoin’s inception, one coin amounted to less than a cent. Since then, the coin has ballooned to as high as $75,000, causing many to believe it is an excellent investment. However, some have…
Author: GOBankingRates
Posted: June 14, 2024, 12:00 pm
Regulation around crypto is still evolving, and understanding how these assets can impact your finances — such as Social Security payments — can be tricky to understand. Check Out: In 5 Years, These…
Author: GOBankingRates
Posted: June 13, 2024, 7:17 pm
Cryptocurrency has been controversial from the onset given that it’s a form of currency you can’t ever lay your hands on, and because it tends to fluctuate wildly in value. Be Aware: 3 Types of…
Author: GOBankingRates
Posted: May 30, 2024, 2:00 pm
Financial giants have made a conspicuous bearish move on Trade Desk. Our analysis of options history for Trade Desk (NASDAQ:TTD) revealed 20 unusual trades. Delving into the details, we found 30% of traders were bullish, while 40% showed bearish …
Author: Benzinga
Posted: May 17, 2024, 3:46 pm
Investors with a lot of money to spend have taken a bullish stance on HubSpot (NYSE:HUBS). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether …
Author: Benzinga
Posted: May 17, 2024, 3:46 pm
Investors with a lot of money to spend have taken a bullish stance on Moderna (NASDAQ:MRNA). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether …
Author: Benzinga
Posted: May 17, 2024, 3:46 pm
Investors with a lot of money to spend have taken a bullish stance on Broadcom (NASDAQ:AVGO). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether …
Author: Benzinga
Posted: May 17, 2024, 3:16 pm

Markets

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Below is Validea’s guru fundamental report for APPLIED MATERIALS, INC. (AMAT). Of the 22 guru strategies we follow, AMAT rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable pr
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for WALMART INC (WMT). Of the 22 guru strategies we follow, WMT rates highest using our Multi-Factor Investor model based on the published strategy of Pim van Vliet. This multi-factor model seeks low volatility stocks that also have str
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for TEXAS INSTRUMENTS INC (TXN). Of the 22 guru strategies we follow, TXN rates highest using our Multi-Factor Investor model based on the published strategy of Pim van Vliet. This multi-factor model seeks low volatility stocks that als
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for PFIZER INC (PFE). Of the 22 guru strategies we follow, PFE rates highest using our Value Investor model based on the published strategy of Benjamin Graham. This deep value methodology screens for stocks that have low P/B and P/E rat
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for CATERPILLAR INC. (CAT). Of the 22 guru strategies we follow, CAT rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental moment
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for MERCK & CO INC (MRK). Of the 22 guru strategies we follow, MRK rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental mome
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for SERVICENOW INC (NOW). Of the 22 guru strategies we follow, NOW rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for PROCTER & GAMBLE CO (PG). Of the 22 guru strategies we follow, PG rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that e
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for NIKE INC (NKE). Of the 22 guru strategies we follow, NKE rates highest using our Value Investor model based on the published strategy of Benjamin Graham. This deep value methodology screens for stocks that have low P/B and P/E ratio
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for MCDONALD’S CORP (MCD). Of the 22 guru strategies we follow, MCD rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitabilit
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for STARBUCKS CORP (SBUX). Of the 22 guru strategies we follow, SBUX rates highest using our P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for PEPSICO INC (PEP). Of the 22 guru strategies we follow, PEP rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit cha
Author: Validea
Posted: July 18, 2024, 1:19 pm
Below is Validea’s guru fundamental report for ACCENTURE PLC (ACN). Of the 22 guru strategies we follow, ACN rates highest using our Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability
Author: Validea
Posted: July 18, 2024, 1:16 pm
Below is Validea’s guru fundamental report for JOHNSON & JOHNSON (JNJ). Of the 22 guru strategies we follow, JNJ rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that e
Author: Validea
Posted: July 18, 2024, 1:16 pm
Below is Validea’s guru fundamental report for MASTERCARD INC (MA). Of the 22 guru strategies we follow, MA rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit ch
Author: Validea
Posted: July 18, 2024, 1:16 pm

Stocks

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Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:43 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:42 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:42 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:40 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:40 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:40 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:40 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:40 pm
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself.
Author: BNK Invest
Posted: July 18, 2024, 12:40 pm
In recent trading, shares of Hormel Foods Corp. (Symbol: HRL) have crossed above the average analyst 12-month target price of $31.67, changing hands for $32.16/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on va
Author: BNK Invest
Posted: July 18, 2024, 12:38 pm
In recent trading, shares of Conagra Brands Inc (Symbol: CAG) have crossed above the average analyst 12-month target price of $30.00, changing hands for $30.12/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on va
Author: BNK Invest
Posted: July 18, 2024, 12:38 pm
In recent trading, shares of First Bancorp (Symbol: FBP) have crossed above the average analyst 12-month target price of $20.67, changing hands for $20.89/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuati
Author: BNK Invest
Posted: July 18, 2024, 12:38 pm
In recent trading, shares of Korn Ferry (Symbol: KFY) have crossed above the average analyst 12-month target price of $71.50, changing hands for $71.65/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation,
Author: BNK Invest
Posted: July 18, 2024, 12:38 pm
In recent trading, shares of M & T Bank Corp (Symbol: MTB) have crossed above the average analyst 12-month target price of $164.28, changing hands for $164.65/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on
Author: BNK Invest
Posted: July 18, 2024, 12:38 pm
In recent trading, shares of Lazard Inc (Symbol: LAZ) have crossed above the average analyst 12-month target price of $45.43, changing hands for $45.49/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation,
Author: BNK Invest
Posted: July 18, 2024, 12:38 pm

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