4 Gold And Silver Stocks That Are Soaring

gold and silver stocks

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The markets overall are in the green on Thursday, including the gold and silver stocks

Global equities are pushing higher on Thursday, with U.S. large-caps hitting new record highs as the Federal Reserve continues its dovish turn. On Wednesday, in its latest policy announcement, the central bank laid the groundwork for a likely rate cut at its next policy decision in July.

This comes amid aggressive rate-cut expectations in the futures market. And it follows a similar dovish turn by the European Central Bank earlier in the week. The era of ultra-cheap money is about to enter a new chapter. And assets across the board — cyclical, defensive, commodities — are perking up as buyers bid up anything that isn’t nailed down.

Gold stock and silver stocks are probably having the most violent reaction to the news as the U.S. dollar weakens. Precious metals are enjoying a number of tailwinds, from geopolitical tensions to a seemingly unending federal deficit to the Fed’s policy pivot. As a result, a number of mining stocks are perking up. Here are four that are ready to buy now:

Yamana Gold

Gold Stocks to Buy: Yamana Gold (AUY)

Shares of Yamana Gold (NYSE:AUY) are pushing up and over their 200-day moving average for the first time since April, capping a 33% rise off of the late May lows. Watch for a return to the late-January highs near $2.90, which would be worth a gain of more than 20% from here. The rise comes after a number of analyst downgrades earlier in the year, including a markdown from RBC Capital Markets in April. Whoops.

The company will next report results on July 25 after the close. Analysts are looking for earnings of two cents per share on revenues of $442.8 million. The company last reported on May 1, with earnings of three cents per share beating estimates by a penny on a 10.5% decline in revenues.

Kinross Gold

Gold Stocks to Buy: Kinross Gold (KGC)

Shares of gold stock Kinross Gold (NYSE:KGC) are pushing up and out of a multi-month trading range going back to December to cap a 30% rise off of the early May lows. Watch for a return to the highs hit in 2017 and again in 2018 near $4.80, which would be worth a gain of more than 25% from here.

The company will next report results on Aug. 7 after the close. Analysts are looking for earnings of two cents per share on revenues of $815.7 million. When the company last reported on May 7, earnings of seven cents per share beat estimates by five cents on a 12.4% decline in revenues.

Helca Mining

Silver Stocks to Buy: Helca Mining (HL)

Helca Mining (NYSE:HL) is a silver and precious metals miner operating out of Idaho that is enjoying a share price move above its 50-day moving average and looks set for a test of its 200-day average, which would be worth a gain of nearly 30% from here. Management recently announced it was taking action to reduce spending in an effort to move to a cash-neutral basis.

The company will next report results on Aug. 8 before the bell. Analysts are looking for a loss of three cents per share on revenues of $158.1 million. When the company last reported on May 9, a loss of four cents per share missed estimates by two cents on a 9.2% rise in revenues.

Coeur D Alene Mines

Gold and Silver Stocks to Buy: Coeur D Alene Mines (CDE)

Shares of Coeur D Alene Mines (NYSE:CDE) are up over 10% as I write this, extending away from their 50-day moving average to close in on the 200-day moving average last touched last summer. A return to the tight early 2018 trading range would be worth an easy double from here. Shares are already up nearly 50% from here.

The company will next report results on July 24 after the close. Analysts are looking for a loss of 10 cents per share on revenues of $169 million. When the company last reported on May 1, a loss of 11 cents per share missed estimates by two cents on a 5.1% decline in revenues.

As of this writing on June 20, 2019, William Roth did not hold a position in any of the aforementioned securities.

 

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Category: Commodity Stocks

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  1. pat says:

    HL and CDE are horrible choices for silver miners. Hecla is almost out of cash and have a huge amount of debt – they lose money on every ounce mined – don’t see how they continue unless they sell off assets. Coeur had a 10/1 reverse split a number of years ago and never recovered. Silvercorps (SVM) is one of the best – just check out their costs of production, p/e ratio and they have cash with little debt – seems like every quarter they are making money unlike their peers.

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