In the two-week short interest reporting period that ended September 15, the price of gold slipped less than 1%. For the year to date, gold futures have gained about 23%, and they posted an all-time high at $2,089.20 in July. Early Friday, the yellow metal traded at around $1,860 per ounce.
Short interest decreased on four of five gold-mining stocks and on two of three gold exchange-traded funds in the first two weeks of September.
Newmont Corp. (NYSE: NEM) saw short interest fall by 2% to 8.9 million shares, which represent about 1.1% of the company’s float. Days to cover remained at two. In the two-week short interest period, Newmont’s share price rose by about 0.8%. The 52-week range is $33.00 to $72.22, and shares closed at $61.44 on Thursday, up by about 2% for the day.
Barrick Gold Corp.’s (NYSE: GOLD) short interest tumbled by 22% in the two weeks through September 15. About 17.9 million shares were short, roughly 1% of the miner’s total float. Days to cover dipped from two to one. Shares added about 1.2% in the period, and the stock closed at $27.65 on Thursday, up about 1.9% for the day. The 52-week range is $12.65 to $31.22.
Freeport-McMoran Inc. (NYSE: FCX) short sellers added 20% to their positions during the period. Some 38 million shares were short, or about 2.6% of the stock’s float. Days to cover remained at two. The stock added about 5.1% in the initial two weeks of September. Shares closed at $15.38 on Thursday, in a 52-week range of $4.82 to $17.50, up by about 4.1% for the day.
Agnico Eagle Mines Ltd. (NYSE: AEM) had short interest tumble by 19% in those two weeks. About 1.1% (2.5 million) of the company’s shares were short. Days to cover dipped from three to two. The stock price increased by about 4.1% during the short interest reporting period. Shares closed up about 3.6% Thursday, at $78.28 in a 52-week range of $31.00 to $89.23.
Kinross Gold Corp. (NYSE: KGC) added about 4.7% to its share price during the two-weeks through September 15. Short interest soared by 33% to about 20.1 million shares, or 1.6% of the stock’s float. Days to cover rose from one to two. Shares closed at $8.84 on Thursday, in a 52-week range of $2.72 to $10.32.
The VanEck Vectors Gold Miners ETF (NYSEARCA: GDX) saw short interest dip by 3% in the two-week period to 43.7 million shares. Days to cover remained at two. The shares gained about 1.2% during the two weeks and closed Thursday at $38.66. The 52-week range is $16.18 to $45.78.
The VanEck Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ) short interest decreased by 8% to 6.7 million shares. Days to cover remained at one. Shares rose by about 2% during the period. The 52-week range is $19.52 to $65.95, and shares closed Thursday at $54.83, up by about 3.2% for the day.
SPDR Gold Shares (NYSEARCA: GLD) had short interest increase by about 12.4% during the two week period to 15.2 million shares. Shares slipped by about 0.8% in that time. The 52-week range is $136.12 to $194.45, and shares closed up about 0.4% Thursday at $175.44.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
