Gauging Gold Miners’ Upside Potential
In 1Q18, gold prices (GLD) rose by just 1%. While gold prices have repercussions on gold miners’ performance based on their leverage, most miners’ price movements in 1Q18 have been driven by company-specific factors such as the release of 2017 results, reserves, and 2018 guidance. Among senior gold miners, analysts are most bullish on Goldcorp (GG), assigning it 65% “buy” and 5% “sell” ratings.