Featured Article

Beware “The Great Reset”

Posted by Michael Campbell

on Saturday, 21 November 2020 11:26

The “Great Reset” agenda is finally in the news. It’s absurd to call it a conspiracy theory. It’s a global agenda that the federal government is on board with. The question is are you?

Q3 Mining Trends, Themes and Companies to Watch

Posted by Farooq Hamed and Judith Elliott, Raymond James Inc.

on Friday, 20 November 2020 14:31

Growth and Balance Sheet Improvement:
With commodity prices across the metals complex improving q/q and many operations returning to full capacity after Covid related downtime in 2Q20, the majority of precious and base metals producers in our coverage universe posted strong FCF growth q/q driving balance sheet improvement. Among the gold producers we highlight AEM, AUY, BTO, CXB, IAG and KGC as having significant q/q increases in FCF with FM and LUN as standouts among the base metals producers. The strong FCFs drove a reduction in net debt for the majority of our coverage companies

Gold Producers Increase Giving – Dividends Keep Increasing:
With the strong FCFs and improving balance sheets, all of our dividend paying gold producers increased dividend rates in 3Q with KGC re-instating its dividend after a multi-year hiatus. Over the past year, BTG has quadrupled its dividend while both AUY and AEM have grown dividends by ~160% and 100% respectively. The base metals producers maintained dividend rates in the quarter

4Q20 Expected to be Strongest Production Quarter of the Year:
The majority of our gold producers are expecting 4Q20 to be the strongest production quarter of the year incorporating operational re-starts, ramp-ups and mine sequencing. With the exception of OGC, gold producers in our coverage universe have delivered 71-75% of annual production guidance YTD which we expect will allow the majority to achieve production guidance for the year when incorporating the expectation of a strong 4Q. Our modeling suggests AEM could exceed annual production guidance while we expect OGC’s production to come in slightly below the guided level. Among the base metals producers, we expect FM and ERO to have strong 4Q production positioning both to achieve the top end or potentially exceed annual production guidance… CLICK HERE for the full report

Is All The COVID Vaccine “Good News” Priced In?

Posted by ZeroHedge

on Wednesday, 18 November 2020 7:04

In discussing yesterday’s market action, overnight Rabobank’s Head of Macro Strategy Elwin de Groot, writes that following the vaccine-inspired rally, “the market seems to have reached a delicate balance now where on the one hand, many investors are willing to long beyond the temporary resurgence of the virus as there is ‘light at the end of the tunnel’, whilst others remain concerned that the upcoming months could still prove rather challenging. This balance was well-illustrated by the performance in the S&P 500 yesterday, where the market opened lower, then regained almost fully the opening losses but then slipped again towards the end of the trading session. Yes, with the S&P only a whisker from its all-time high it is obviously ‘risk-on’, but somehow if feels different.”

This point was on full display this morning when in the third consecutive good vaccine news released since Pfizer’s covid news last Monday, in which the company followed up with an increased effectiveness estimate (from 90% to 95%) which should make the company’s application for emergency US authorization be accepted smoothly, the stock response was lukewarm at best, with futures now having faded the entire post-update spike higher…CLICK for complete article

New Study Finds The Fed Put Is Very Real And Dates Back To The Mid-90s

Posted by ZeroHedge

on Tuesday, 17 November 2020 10:53

For some of us, the idea of a Fed put hasn’t even been up for debate over the last several decades. We know it exists and, in fact, most of us believe it is the Fed’s main (and perhaps only) actual mandate: making sure markets only go up.

But that doesn’t mean the rest of the “straights” aren’t catching on a little late. And to them, we say better late than never.

And so now, a new study called “The Economics of the Fed Put” featured in Barron’s appears to show conclusively that the Fed put actually exists. The study’s authors, Anna Cleslak, a finance professor at Duke University’s Fuqua School of Business, and Annette Vissing-Jorgensen, a finance professor at the University of California, Berkeley’s Haas School of Business, found “compelling evidence” of the Fed put dating all the way back to the mid 1990’s.

For their research, the authors looked at “decades’ worth of minutes and transcripts of meetings of the Federal Open Market Committee, the stock market’s performance between those meetings, and the federal-funds rate.” CLICK for complete article

Big Fat Idea – Silver Now!

Posted by MoneyTalks Editor

on Monday, 16 November 2020 16:01

Michael Konnert, CEO of Vizsla Resources, joins Michael to make the case that the best time to add silver to your portfolio – is right now! Find out why.