Gold Still Burning Cash: Miners Between A Rock And A Hard Place

04OctOctober 4, 2013

Gold Still Burning Cash: Miners Between A Rock And A Hard Place

Citi analysts Jon H Bergtheil, Johann Steyn, Heath R Jansen, Jatinder Goel, Michael E Flitton, Craig Irwin and Alexander Hacking provide a well-reasoned analysis of the gold market and their basis for downgrading Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) (LON:RRS), Fresnillo Plc (LON:FRES) (OTCMKTS:FNLPF) and Polyus Gold International Ltd (LON:POLG).

Bearish on gold

Citi’s view is that gold topped out in 2011 and is yet to climb out of its bearish depths.

SORRY!

This content is exclusively for paying members.

If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.

Author

VW Staff

The post above is drafted by the collaboration of the ValueWalk Team.

[From The Archives] Century Partners Barron’s Interview — Part Two

Jul

Continued from part one…. Towards the end of 1968, many of the pressures Century Partners noticed during the second half of 1967 began to reappear. Inflation started to rise, putting... Read More

SolarCity Corp Urges Swift Passage Of ITC Extension Legislation

Dec

SolarCity has urged Congress to swiftly pass tax bills introduced by House Speaker Paul Ryan facilitating the extension of the Investment Tax Credit (ITC) for solar. The renewable energy seller’s share price... Read More

Paul Singer “You inevitably realize that gigantic risks exist to be revealed in the next GFC”

Jan

Elliott Management’s Paul Singer has been among a few major figures in the financial world to make a stand against noncleared big bank derivatives. His concern for “financial system... Read More

$T boone pickens, Drilling for oil, oil prices, shale, natural gas, fracking, oil markets, American business magnate, financie, BP Capital Management, T. Boone Pickens, Wind power, valuewalk, Alternative energy, nat gas, The First Billion is the Hardest, peak oil, energy, the Pickens Plan, Oklahoma State University, wind turbines, Texas, wind power, solar power$

Macquarie: Oil Price Of $45 For 2020

Jul

The oil market could be a swamp that turns into a lake with a flood of supply dominating the delicate market picture until 2020. A July 2017 report from... Read More

LinkedIn Corp (LNKD) Q3 Earnings Beat Esimates

Oct

LinkedIn Corp (NYSE:LNKD) released its earnings numbers for the three months through September this afternoon after the market closed in New York. The enterprise social network showed earnings of... Read More

Earnings Roundup: WMT, SHLD, CRM, BRCD, AMAT, ARO, GPS

May

It was a big day for retail earnings today as many of the country's big chain store operations reported their first quarter results. Here's a round up of how... Read More

Activision Buys Vivendi In $8.17 Billion Deal

Jul

Activision Blizzard, Inc. (NASDAQ:ATVI) is set to buy back about 429 million shares from Vivendi SA (EPA:VIV) (OTCMKTS:VIVHY) in an $8.17 billion deal, ending months of uncertainty. Activision Blizzard, Inc.... Read More

SunPower Crushes 1Q14 Guidance Like a Russian Tank Over Ukrainian Border Post, Says Analyst

Apr

SunPower Corporation (NASDAQ:SPWR) beat expectations again for 1Q14, but this is to be expected considering the company’s history of lowball guidance that almost guarantees a headline beat each quarter.... Read More

Pace Of Merger & Acquisition Activity To Slow In 2016: BAML

Dec

As equity investors are beginning to push back against further re-leveraging activity, the pace of merger and acquisition activity will slow next year, believe analysts at Bank of America... Read More

Goldman's Top 25 Trades For This Earnings Season

Jan

Below is a summary of Goldman's top 25 tactical options trades for the upcoming earnings season. As usual, these trade ideas are just that, ideas, and none of the information... Read More