{"id":1122403,"date":"2019-06-20T23:02:37","date_gmt":"2019-06-20T23:02:37","guid":{"rendered":"https:\/\/www.mining.com\/?p=994465"},"modified":"2019-06-20T23:02:37","modified_gmt":"2019-06-20T23:02:37","slug":"gold-mining-stocks-on-a-tear","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1122403","title":{"rendered":"Gold mining stocks on a tear"},"content":{"rendered":"

Gold gathered momentum on Thursday sending the shares of gold miners higher across the board.<\/p>\n

Gold for delivery in August, the most active futures contract trading in New York, settled at $1,396.90 an ounce. That\u2019s up nearly $50 an ounce or 3.6% from yesterday\u2019s settlement and the highest since September, 2013.<\/p>\n

Barrick Gold, until last year the world’s no 1 gold miner in terms of ounces produced, jumped 5.7% in more than three times usual volume of shares traded. Barrick is trading at the highest since October 2017 and is now worth $27 billion in New York. <\/p>\n

Newmont Goldcorp ended the day 3.4% higher for a market value just short of $31 billion. Newmont absorbed Vancouver-based Goldcorp this year and the combined company is targeting output of 8.4m ounces this year<\/a>, 2.8m ounces more than Barrick’s forecast production in 2019.<\/p>\n

\"\"
Source: Bloomberg<\/figcaption><\/figure>\n

World number three gold producer AngloGold Ashanti which is estimating output of around 3.4m ounces this year surged nearly 7% on Thursday in New York where the Johannesburg-based company’s ADRs are listed. The company, worth $7 billion, is trading at a three-year high.<\/p>\n

Toronto’s Kinross Gold, last year the world’s no 4 gold producer at over 2.4m ounces gained 4.6% lifting its market value to $4.8 billion. The performance of Russian producer Polyus was more subdued and units of the company trading in London added less than 1% to lift the company’s value to $11.5 billion. Moscow-based Polyus is set to overtake Kinross as the fourth largest gold producer.<\/p>\n

Gains were even more spectacular further down the rankings with Canada’s Yamana Gold leading with a 9% advance for a market cap of $2.3 billion. Harmony Gold added 7.4% lifting its market worth to over a $1 billion. The South African firm last year produced 1.4m ounces of gold compared to 940,000 ounces for Yamana. <\/p>\n

South Africa’s Gold Fields jumped 4% and the company’s depositary receipts are now valued at $4.4 billion in New York, a three-year high for the 2m ounce-plus gold miner. <\/p>\n

Australia’s Newcrest Mining was set to add to its 4% gains on Thursday as markets open in the country for Friday’s session. Newcrest is worth $17.5 billion and last year mined 2.4m ounces, 6% more than than in 2018. Agnico Eagle, the world’s no 9 gold miner in terms of annual production, is worth $11.7 billion a 3% gain on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold price surge to highest since 2013 light fire under gold mining stocks.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122403"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1122403"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122403\/revisions"}],"predecessor-version":[{"id":1122404,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1122403\/revisions\/1122404"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1122403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1122403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1122403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}