S&P/TSX Global Gold Index Outperforming Gold Futures Since End of June Five Star Equities Provides Stock Research on Harmony Gold and Jaguar Mining
NEW YORK, NY -- (Marketwire) -- 11/01/12 -- After a solid start to the year, gold mining stocks have struggled of late. The Market Vectors Gold Miners ETF (GDX) is down more than 4 percent over the last month, while the Market Vectors Junior Gold Miners ETF (GDXJ) has crumbled more than 5 percent over the that period. Five Star Equities examines the outlook for companies in the Gold Industry and provides equity research on Harmony Gold Mining Co. (NYSE: HMY) and Jaguar Mining Inc. (NYSE: JAG) (TSX: JAG).
Access to the full company reports can be found at:
www.FiveStarEquities.com/HMY
www.FiveStarEquities.com/JAG
Since the end of June until now gold stocks have begun to outperform bullion. Over that time period the S&P/TSX Global Gold Index has gained 12 percent, while gold futures in New York have gained roughly 6.7 percent. Shares of major gold companies such as Goldcorp Inc. and Agnico-Eagle Mines Ltd. have surged recently as earnings have beat profit estimates as a result of lower costs and higher cash flow.
"The gold shares are starting to outperform the gold price," David Christensen, CEO of ASA Gold and Precious Metals Ltd. "As the companies begin to tighten their operating constraints and generate more cash flow; we're seeing some of that turnaround in the valuations in the industry."
Five Star Equities releases regular market updates on the Gold Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Harmony Gold Mining is engaged in underground and surface gold mining and related activities, including exploration, processing and smelting. As of June 30, 2011, the company's mining operations reported total proven and probable reserves of 41.6 million ounces. Harmony is scheduled to release third quarter 212 financial results on November 7, 2012.
Based on its development plans, Jaguar is one of the fastest growing gold producers in Brazil. The Company is actively exploring and developing additional mineral resources at its approximate 256,300-hectare land base in Brazil. Jaguar is scheduled to release their third quarter 2012 financial results on November 12, 2012.
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