Shares of gold miners continued to fall Monday after Jefferies analyst Peter Ward stated he expects miners to slip further. "Given the dramatic decline in share prices, some may perceive gold equities as inexpensive. We strongly disagree," Ward said in a recent note to clients. Gold prices traded around the $1,310 an ounce mark Friday, down roughly 20 percent for the year. War has stated that he expects gold prices to hover around the $1,300 mark for the rest of 2013.
Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) shares traded in the range of $18.00 to $18.30 Friday before settling to close at $18.03, a decrease of 0.39 percent. The stock appears to be facing some resistance at the $18.30 and $18.87 levels with some support at $17.57. Shares of Barrick Gold have fallen approximately 48.0 percent in 2013.
More information on Barrick Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ABX
Eldorado Gold Corp. (NYSE: EGO)(TSX: ELD) shares traded in the range of $6.32 to $6.51 Friday before settling to close at $6.39, a decrease of 0.31 percent. The stock appears to be facing some resistance at the $6.66 and $6.94 levels with some support at $6.31. Shares of Eldorado Gold have fallen approximately 50.0 percent in 2013.
More information on Eldorado Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EGO
Kinross Gold Corporation (NYSE: KGC)(TSX: K) shares traded in the range of $4.73 to $4.87 Friday before settling to close at $4.81, a decrease of 0.62 percent. The stock appears to be facing some resistance at the $4.93 and $5.05 levels with some support at $4.77. Shares of Kinross Gold have fallen approximately 50.0 percent in 2013.
More information on Kinross Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KGC
New Gold Inc. (NYSEMKT: NGD)(TSX: NGD) shares traded in the range of $5.85 to $6.02 Friday before settling to close at $5.88, a decrease of 1.01 percent. The stock appears to be facing some resistance at the $5.98 and $6.26 levels with some support at $5.71. Shares of New Gold have fallen approximately 47.0 percent in 2013.
More information on New Gold and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NGD
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at http://www.wallstreetfundamentals.com/ today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact:
Wall Street Fundamentals
Website: http://www.wallstreetfundamentals.com/
Email: [email protected]