Canadian Miners Shine After a Week in the Red (PAL, GRS, SA, SVM, SSRI, SLW, ABX, GG)
Canadian mining stocks were discounted by as much as -15% last week, but shares are rebounding on Monday.
Canadian stocks are posting their best performance since 2009 as the dollar pares gains accrued over the last two months. Weakness in the U.S. currency is also helping the broad precious metals segment, and Canadian miners are ahead by as much as 7% for the session.
As a whole, the Canadian Mining Stocks Index is up by 4.2% today, but it still lags the S&P 500 by -5% over the last month.
Today’s top-performers include Platinum and Palladium Stocks Index component North American Palladium (PAL), Nova Scotia-based Gammon Gold (GRS), and Toronto’s Seabridge Gold (SA). Seabridge and North American Palladium remain down by more than -7.5% over the past five sessions.
As of this writing, the Canadian Mining Stocks Index is one of the 40 worst performing tickerspy Indexes over the last month, down by -7.5%
Investors can track the Canadian Mining Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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