The mid-tier gold miners reported outstanding Q3 results. When adjusted for shufflings in GDXJ’s upper rankings, the mid-tiers’ gold output was stable despite ongoing challenges from COVID-19 mitigation.
They also held the line on production costs, doing far better than the majors. That combined with record-high average gold prices to make last quarter mid-tiers’ most profitable ever witnessed.
These sweet-spot gold miners have never been stronger fundamentally, with sales, profits, and operating-cash-flow generation soaring. And these super-bullish trends are continuing, as gold is staying high even while correcting.The mid-tier gold miners’ stocks are in this sector’s sweet spot for upside potential. After a spectacular run since March’s stock panic, they have been correcting since early August. That is doing its necessary work of rebalancing sentiment, paving the way for the next bull upleg. Higher prevailing gold prices have proven a huge fundamental windfall for mid-tiers, as their latest quarterly operating and […]
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content