global gold mining stocks - trendrating€¦ · 16/12/2016 · gold mining stocks listed in hong...

Smart Momentum | December 16, 2016 | www.trendrating.com 1

TRENDRATING LONDON – BOSTON – LUGANO

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GLOBAL GOLD MINING STOCKS FLEEING FROM GOLD?


REPORT SUMMARY:

TRENDRATING PICKING UP MOMENTUM DEGRADATION IN GOLD MINING STOCKS SINCE AUGUST

CONTINUING DOWNGRADES IMPLY FURTHER UNDERPERFORMANCE OF THIS SECTOR

SOUTH AFRICAN GOLD MINERS ARE CURRENT SUFFERING THE WORST PERFORMANCE

2016 Ratings Evolution: The chart below displays the distribution of momentum among Global Mining Stocks. Since about August, we see a sharp degradation of momentum. About 86% of the rating changes in the last three months have been for gold mining stocks moving to negative momentum

Figure 1: Mining Stocks Rating Evolution

Momentum Breadth by Country: Gold mining stocks listed in Hong Kong and China currently have the highest quality momentum. All Gold stocks in South Africa are currently in a negative trend.

Figure 2: Proportion of Gold Mining Stocks in Positive Momentum

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China Hong Kong Russia UK Australia Canada UnitedStates

South Africa

Proportion of Gold Mining stocks in Positive Momentum


Market %A/B Rating

China 100% A

Hong Kong 75% B

Russia 67% B

UK 64% B

Australia 53% C+

Canada 42% C

United States 41% C

South Africa 0% D

Figure 3: Percentage of A/B Rated Global Mining Stocks

Ratings Performance: Figure 4 below shows that A rated securities are providing positive performance while C and D rated Gold Miners are dragging down the performance of this sector. On a Since Rated Basis, A rated securities are out-performing their D rated counterparts by about 80%. The Trendrating Smart Momentum model has done a great job of distinguishing winners from losers among Gold Mining Stocks.

Figure 4: Positive vs Negative Momentum Ratings

Below, we will review some charts of Gold Mining Stocks and ETFs showing timing of recent negative ratings

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A C D

Average Performance Since Rated


Gold ETFs in Negative Momentum (Sample):


Gold Stocks in Negative Momentum (Sample):


Use the Markets Tab on your Trendrating Desktop to keep track of momentum in various markets, sectors and regions.

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global gold mining stocks - trendrating€¦ · 16/12/2016 · gold mining stocks listed in hong...

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