Loading ...Ha! We’ll see if it ends up being good for me LOL.
The shares have always tracked silver much better than they have gold and they’ve got silver pinned down today. Did you notice though how they tried to tie every other pm stock to NEM’s earnings? AEM got popped, now coming back, same with some others. GOLD is the one they love to pound when NEM is struggling as well. I think they had it down 4% at one point. Shares are all coming back though, except NEM. A couple are positive now. They want GDX and the HUI to look weak. I’d bet we’ll get some short covering at the end of the day.
If you look at NEM $3.25 in earnings, puts them at a 15 PE, but that’s based on $2500 gold, not $2700, and gold is going up, not to mention whatever silver they drag out of the ground. Hard to see a lot of risk there unless the gold price craters. with a forward PE of 13.75 – conservative estimate at $2700 gold. Analysts have price targets from $53 to $66. That seems light.
I’m not holding it anyway, but you’re right, the shares haven’t come close to catching up with the metals.
Dollar weakening a little now, but the BRICS are saying they are not trying to “defeat” the dollar. They will though by default. Japan exports of cars to Russia are soaring. Hard to think the Japanese are going to force the BRICS to buy dollars to purchase their cars. That’d would be stupid on their part.
No sir. If the BRICS are really backing their payment system with 60% gold, then gold is going much, much higher IMHO.