Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
British Columbia’s 20 top-performing mining stocks recorded an average one-year growth of 87.1% in 2019 compared with 30.1% in 2018, according to Business in Vancouver’s Top Performing B.C.-Based Mining Stocks list data.
Liberty Gold Corp. (TSX:LGD) recorded the largest one-year per-share growth: up 163.64% to $0.87 on December 2, 2019, from $0.33 on December 3, 2018. While the top mining stocks are performing better on average than they did last year, the company at the top of the rankings reported less growth this year.
In 2018, Trilogy Metals Inc. (TSX:TMQ) had the largest one-year per-share growth: 189% to $2.89 from $1 a year before.
Alexco Resource Corp. (TSX:AXU) had the largest five-year growth of the five top-performing mining stocks with five years of data available.Its stock jumped 372.7% to $2.60 on December 2, 2019, from $0.55 on December 5, 2014.
Balmoral Resources Ltd. (TSX:BAR) and Gold Springs Resource Corp. (TSX:GRC), two of the five best-performing mining stocks with five years of data available, recorded significant growth over the past year but have declined in value since December 2014.
Balmoral posted the third-largest growth on BIV’s list at 153.3%. Its share price increased to $0.38 in 2019 from $0.15 in 2018.
However, its stock has yet to return to its late-2014 price of $1.16. Western Resources Corp. (TSX:WRX) had the largest one-year decline, falling 90.5% in share value to $0.275 in 2019 from $2.90 a year before.
Turquoise Hill Resources Ltd.’s (TSX:TRQ) stock was the biggest five-year loser on the list. It fell 82.6% to $0.62 on December 2, 2019, from $3.56 on December 5, 2014.
(This article first appeared in Business in Vancouver)
