Shares of precious metals companies are trading higher as gold and silver gain amid a drop in the US dollar following soft June inflation data.
Portfolio Pulse from Benzinga Newsdesk
Shares of precious metals companies are trading higher as gold and silver prices increase due to a drop in the US dollar following soft June inflation data.
July 12, 2023 | 4:29 pm
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POSITIVE IMPACT
Alamos Gold Inc. (AGI) shares may rise due to increased gold prices.
As a gold mining company, Alamos Gold Inc.'s profitability is directly linked to the price of gold. The increase in gold prices due to the drop in the US dollar could lead to higher revenues for the company, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Coeur Mining Inc. (CDE) shares may rise due to increased silver prices.
As a silver mining company, Coeur Mining Inc.'s profitability is directly linked to the price of silver. The increase in silver prices due to the drop in the US dollar could lead to higher revenues for the company, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Eldorado Gold Corporation (EGO) shares may rise due to increased gold prices.
As a gold mining company, Eldorado Gold Corporation's profitability is directly linked to the price of gold. The increase in gold prices due to the drop in the US dollar could lead to higher revenues for the company, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Franco-Nevada Corporation (FNV) shares may rise due to increased gold prices.
As a gold-focused royalty and stream company, Franco-Nevada Corporation's profitability is directly linked to the price of gold. The increase in gold prices due to the drop in the US dollar could lead to higher revenues for the company, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Kinross Gold Corporation (KGC) shares may rise due to increased gold prices.
As a gold mining company, Kinross Gold Corporation's profitability is directly linked to the price of gold. The increase in gold prices due to the drop in the US dollar could lead to higher revenues for the company, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
McEwen Mining Inc. (MUX) shares may rise due to increased gold and silver prices.
As a mining company with interests in both gold and silver, McEwen Mining Inc.'s profitability is directly linked to the prices of these metals. The increase in gold and silver prices due to the drop in the US dollar could lead to higher revenues for the company, potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80