Wednesday, May 12, 2010

Goldcorp (TSE:G), Barrick Gold (NYSE:ABX) Level and Down Even with Gold Price Records

Goldcorp (TSE:G) (NYSE: GG) and Barrick Gold (NYSE: ABX) (TSE:ABX), among the largest gold mining companies in the world, didn't partake in the surge in gold mining stocks, as they responded to record gold futures prices over the last couple of days.

This isn't a surprise of completely unexpected, as the junior miners and mid-level gold mining companies like Eldorado Gold (TSE:ELD), Apollo Gold (AMEX:AGT) and NovaGold Resources (AMEX:NG) are being looked to as companies that will move up strongly in response to rising gold prices.

Depending on which stock exchange you view the companies at, Goldcorp and Barrick are either down, or barely above level, and that seems to imply investors think they're valued at what they should be, and the gold prices are already figured into the share prices of the giant mining companies.

But the junior and mid-level gold mining companies should shine going forward, as they've been sitting around not doing much, and now that the limits seem to be taken off the price of gold futures, gold mining stocks are starting to draw interest of investors, and they're finally starting to move up to more accurately reflect the markets they're in.

1 comment:

Anonymous said...

One day clearly makes a trend. Where can I invest with you guys?