Followers | 679 |
Posts | 140848 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Friday, September 25, 2020 9:10:26 AM
By: 24/7 Wall St. | September 25, 2020
In the two-week short interest reporting period that ended September 15, the price of gold slipped less than 1%. For the year to date, gold futures have gained about 23%, and they posted an all-time high at $2,089.20 in July. Early Friday, the yellow metal traded at around $1,860 per ounce.
Short interest decreased on four of five gold-mining stocks and on two of three gold exchange-traded funds in the first two weeks of September.
Newmont Corp. (NYSE: NEM) saw short interest fall by 2% to 8.9 million shares, which represent about 1.1% of the company’s float. Days to cover remained at two. In the two-week short interest period, Newmont’s share price rose by about 0.8%. The 52-week range is $33.00 to $72.22, and shares closed at $61.44 on Thursday, up by about 2% for the day.
Barrick Gold Corp.’s (NYSE: GOLD) short interest tumbled by 22% in the two weeks through September 15. About 17.9 million shares were short, roughly 1% of the miner’s total float. Days to cover dipped from two to one. Shares added about 1.2% in the period, and the stock closed at $27.65 on Thursday, up about 1.9% for the day. The 52-week range is $12.65 to $31.22.
Freeport-McMoran Inc. (NYSE: FCX) short sellers added 20% to their positions during the period. Some 38 million shares were short, or about 2.6% of the stock’s float. Days to cover remained at two. The stock added about 5.1% in the initial two weeks of September. Shares closed at $15.38 on Thursday, in a 52-week range of $4.82 to $17.50, up by about 4.1% for the day.
Agnico Eagle Mines Ltd. (NYSE: AEM) had short interest tumble by 19% in those two weeks. About 1.1% (2.5 million) of the company’s shares were short. Days to cover dipped from three to two. The stock price increased by about 4.1% during the short interest reporting period. Shares closed up about 3.6% Thursday, at $78.28 in a 52-week range of $31.00 to $89.23.
Kinross Gold Corp. (NYSE: KGC) added about 4.7% to its share price during the two-weeks through September 15. Short interest soared by 33% to about 20.1 million shares, or 1.6% of the stock’s float. Days to cover rose from one to two. Shares closed at $8.84 on Thursday, in a 52-week range of $2.72 to $10.32.
The VanEck Vectors Gold Miners ETF (NYSEARCA: GDX) saw short interest dip by 3% in the two-week period to 43.7 million shares. Days to cover remained at two. The shares gained about 1.2% during the two weeks and closed Thursday at $38.66. The 52-week range is $16.18 to $45.78.
The VanEck Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) short interest decreased by 8% to 6.7 million shares. Days to cover remained at one. Shares rose by about 2% during the period. The 52-week range is $19.52 to $65.95, and shares closed Thursday at $54.83, up by about 3.2% for the day.
SPDR Gold Shares (NYSEARCA: GLD) had short interest increase by about 12.4% during the two week period to 15.2 million shares. Shares slipped by about 0.8% in that time. The 52-week range is $136.12 to $194.45, and shares closed up about 0.4% Thursday at $175.44.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent GDX News
- YieldMax GDXY Name Change • GlobeNewswire Inc. • 01/25/2024 04:22:00 PM
- Surging S&P 500 Breadth • ValueWalk • 07/19/2023 03:16:37 PM
- S&P 500 Corrects In Breadth • ValueWalk • 07/18/2023 03:08:49 PM
- If The USDX Fell So Much, Why Didn’t Gold Truly Soar? • ValueWalk • 07/17/2023 05:16:20 PM
- USD’s Decline That’s… Bearish For Gold?! • ValueWalk • 07/12/2023 02:38:08 PM
- S&P 500 Late Day Reversal Worry • ValueWalk • 07/10/2023 03:17:34 PM
- Massive Gaming Celebrates Global Launch of House of Blackjack with USDC Earning Race • ValueWalk • 07/10/2023 02:44:17 PM
- Breathers In Mining Stocks Are Not Real Rallies • ValueWalk • 07/06/2023 05:20:55 PM
- S&P 500 Character Changes • ValueWalk • 07/06/2023 03:10:06 PM
- S&P 500 – As Bullish As It Gets • ValueWalk • 07/03/2023 04:01:21 PM
- The Great Gold Migration: How Asia Is Dominating The Global Gold Landscape • ValueWalk • 06/30/2023 05:07:35 PM
- S&P 500 Dip Buying And Tame PCE • ValueWalk • 06/30/2023 03:34:13 PM
- The Bullish Reversal In Gold Is Coming • ValueWalk • 06/29/2023 04:00:44 PM
- Insufficient S&P 500 Rotations • ValueWalk • 06/27/2023 02:41:42 PM
- Failing S&P 500 Rotations • ValueWalk • 06/23/2023 03:09:19 PM
- Countdown to S&P 500 Downleg • ValueWalk • 06/19/2023 01:49:20 PM
- Now THAT Was The Game-Changer For The Price Of Gold! • ValueWalk • 06/15/2023 04:40:35 PM
- S&P 500 Manages To Recover Initial Decline • ValueWalk • 06/15/2023 03:30:07 PM
- S&P 500 Manages To Recover From Tech-Driven Decline • ValueWalk • 06/15/2023 03:30:07 PM
- S&P 500 Withstands The Initial Selling – No Hike Tomorrow • ValueWalk • 06/13/2023 03:15:19 PM
- Roadmap For Mining Stocks – Courtesy Of The Stock Market • ValueWalk • 06/06/2023 03:17:49 PM
- Stocks To Still Extend S&P 500 Upswing • ValueWalk • 06/05/2023 03:31:02 PM
- AI, Stocks, And Gold Stocks – Connected After All • ValueWalk • 05/31/2023 03:29:15 PM
- Could Gold Miners Finally Stop Sliding?! • ValueWalk • 05/26/2023 08:42:37 PM
- S&P 500 Fine Selling Initiative • ValueWalk • 05/24/2023 03:06:00 PM
FEATURED Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • Apr 25, 2024 8:52 AM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM