Gold Fields Limited and Jaguar Mining Start Expanding Their Margins
March 28 2012 - 8:20AM
Marketwired
Gold prices have been relatively muted this month due to
strengthening investor optimism on the United States' economic
outlook along with a sharp rise in treasury yields. The fall in
gold prices has led one or more central banks to buy as much as
four tons of bullion in recent weeks, according to a recent
Financial Times report. Five Star Equities examines the outlook for
companies in the Gold industry and provides equity research on Gold
Fields Ltd. (NYSE: GFI) and Jaguar Mining Inc. (NYSE: JAG) (TSX:
JAG). Access to the full company reports can be found at:
www.fivestarequities.com/GFI www.fivestarequities.com/JAG
According to the 'Mineral Commodity Summaries 2012' recently
released by the U.S. Geological Survey the world's gold-producing
countries bolstered their output in 2011, producing a total of
2,700 tons of gold, a 5.5 percent increase on 2010. According to
the China Gold Association, China's gold output reached a record
high of 360.96 tons in 2011, cementing its top global ranking for
the fifth consecutive year. Statistics from China's Ministry of
Industry and Information Technology also show that the country's
gold mining sector continued to expand in January with a rise of
about 3.69% from the same month a year ago.
China's increasing gold output remains nowhere near the
country's huge appetite for consuming gold, however, which rose to
roughly 800 tons in 2011.
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While gold prices are finally falling off 52 week highs, gold
mining stocks continue to lag near 52 week lows. Patrick Chidley,
mining analyst for HSBC, argues that gold miners are "expanding
their margins rapidly and as their earnings increase, these
companies are paying very strong dividends."
The Market Vectors Gold Miners ETF (GDX) -- which seeks to
replicate an index that provides exposure to publicly traded
companies worldwide involved primarily in the mining for gold,
representing a diversified blend of small, mid and
large-capitalization stocks -- is down more than seven percent over
the last month.
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