These Gold Stocks Rally To New 6-Month Highs

Many gold mining stocks are trading higher lately as the underlying commodity itself continues upward and onward. Wide disagreement exists as to what the exact reasons may be — inflation? deflation? disinflation? Putin? — the price of the yellow metal might be all you need to know for now.

The daily price chart for the SPDR Gold Shares (NYSE: GLD
GLD
) looks like this:

The most obvious feature of this (to a price chart analyst) is the crossover of the 50-day moving average (the blue line) to above the 200-day moving average (the red line). The short-term had been below the long-term since July, a long time for those holding the precious metal.

These SPDR Gold Shares bottomed in November at $151 and change. Since then, they’ve rallied to $180.61. Quick math and that seems to come to a 16.85% gain about 3 months’ time, not bad for one of the most bad-mouthed of the commodities. It feels as if something is definitely up.

These 3 stocks are enjoying the up move of the underlying stuff:

Hecla Mining (NYSE: HL) is mainly a silver miner but the company finds enough gold that it’s affected by the price of both metals. Hecla’s based in Coeur d’Alene, Idaho and has been in the mining business since 1891. Earnings for 2022 were up by 435% the although past 5-year growth rate is -16.80%.

The company pays a .36% dividend.

The daily price chart looks like this:

Here’s another one of those 50/200-day moving average crossovers — this one took place in December. Hecla’s price has gained steadily since the late September, 2022 low near $3.40. The relative strength indicator (RSI, below the price chart) shows a positive divergence between the May, 2022 dip and that late September bottom

Kinross Gold Corp (NYSE: KGC) is headquartered in Toronto, Ontario, Canada with operations in that country as well as in the United States, Brazil, Chile and Mauritania. Earnings in 2022 came in at -82% — the past 5-year earnings record shows growth of 32.30%. Kinross pays a dividend of 2.46%.

From a mid-July, 2022 low of about $3.00 to the January, 2023 high of $4.84 represents an increase of 38%. Note that crossover of the 50-day moving average above the 200-day moving average that took place early this year.

Wheaton Precious Metals Corp (NYSE: WPM) is also Canadian-based with corporate headquarters in Vancouver, British Columbia. The company says it has 21 operating mines and 13 development stage projects. Earnings increased by 48.30% in 2022 and growth over the past 5-years comes to 29.90%. Investors receive a 1.29% dividend.

As with each of the charts, above, there’s that 50/200-day moving average crossover, this one early in January, 2023.

Not investment advice. For educational purposes only.