The gold miner ETF of GDX saw a net February gain of +$0.76 (1.9%) to $39.72, largely helped by gold printing a new hist' high of $2974.00
GDX, monthly
Summary
The collective of miners climbed for a second consecutive month. I
would note the 10MA at $37.31, which was settled above, as the s/t trend is bullish.
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Four of the key miners...
Newmont (NEM)
Newmont saw a February high of $48.23, if cooling back to settle +$0.12 (0.3%) to $42.84. I
would note the monthly 10MA at $44.71, which was settled beneath. Monthly
momentum ticked lower for a fifth month, but is leveling out.
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Barrick Gold (GOLD)
Barrick saw a net February gain of +$1.47 (9.0%) to $17.75. Momentum
ticked a little higher, and is fractionally positive. After some drama, the company and CEO Bristow have reached an agreement with the Mali
regime.
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First Majestic Silver (AG)
First Majestic Silver saw a net February decline of -$0.32 (5.7%) to
$5.37, on record vol' of 389M. Vol' was skewed due to the recently finalised
merger with Gatos Silver.
Momentum ticked a little lower, if remaining marginally positive.
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Pan American Silver (PAAS)
Pan American Silver saw a net February gain of +$0.62 (2.7%) to $23.83, on marginally higher vol' of 63M. Momentum remains on the moderately high side.
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Of the four, yours truly favours Newmont, which has less of a copper component than Barrick.
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