The demand for gold has shot in 2025. The price of gold metal in the raw material market gives a good sample of this. The steep pending ounce of this commoditure It is faithful reflection of how Gold has managed to attract those who seek a component of refugio that they no longer see in other assets such as the US dollar. A trend reinforced by the purchases of this metal by the central banks.
An explosive cocktail that has led the metal to revalue more than 30% in some moments of what goes for a year -his best annual balance of the century -to double the price he quoted in the pandemic and renew its historical maximums in more than 50 times in the last twelve months.
How could it be otherwise, the companies dedicated to the extraction of this raw material are placed among the most bullies in the market. “Although gold prices have a direct impact on income, profitability and assessment of a mining company, the correlation is not perfect with the precious metal. However, when the price of gold increases quarter after quarter, if gold mining companies control their exploitation costs, their benefits margins can increase,” says Charlotte Peuron, manager of specialized funds specialized in precious metals of precious metals mutuel ASSET MANAGEMENT.
Newmont is the spearhead of all of them. One of the largest firms in the sector, and the most recognizable face of all of them when quoting in one of the most visibility markets in the world, the S&P 500. The Minera based in Denver, Colorado, is one of the largest gold exploiters in the world and revalues about 50% so far in the American selective.
But it is not the only one that records similar behavior. There are more than 50 international quotes that capitalize 1 billion euros or more and with high exposure to the extraction of gold metal (greater than 50%) than They manage to revalue, on average, more than 45% so far this exercise. Excessive behavior if one takes into account that just four months have passed since the year began, but that it is not so vast if you take into account the potential close to 15% that experts grant them to the following twelve months.
That is, it is not expected that excellent rally that star in 2025 comes to an end in the medium term, but it is estimated that its upward behavior continues to have continuity. “We believe that, given the strong sustained demand, there is still room for this metric to increase, especially for precious metal promoters and smaller producers,” says Peuron.
Among them, the majority of Chinese companies that receive the best recommendations of analysts. Bumi Resources, Mining Venture, Alamos Gold, Aura Minerals, or Torex Gold, for example, receive the best recommendation of experts. However, Three Australian quotes sneak into the list of companies that are most expected to be revalued in the following twelve months: West African Resources, Westgold Resources y Emerald Resources
“In my opinion, mining companies are working excellently at an operational level to continue ignoring them, especially in this market context so accused in which many other actions are a ballast,” he explains Ned Naylor Leylad, Investment Manager, Gold and Silver and the Jupiter Gold & Silver Fund Fund of Jupiter AM.
“Mining companies usually charge impulse in bullish periods for monetary metals. Having fixed costs, the rise in gold and silver prices tends to impact directly on the profitability and cash generation of mining companies. At this time, they are spending a lot of effective, they are paying dividends and are undervalued in front of the story attending to indicators such as the price-flow price, “he explains.
The uprising dynamics presumed by experts for gold mining companies, charges special relevance if one takes into account that their actions were significantly lagging in the Variable Income Market compared to gold yields in 2024. A behavior that adds strength to the potential that the consensus of analysts continues to wait “If the margins remain robust,” Steve Land, CFA, portfolio manager and research analyst at Franklin Equity Group clarifies.
The most uprising value of the S&P 500 so far in exercise
The most bullish company in S&P 500 so far this year is Newmont, which acquires, explores and develops mineral properties – specially gold (85% of its benefit comes from this metal), but also of copper, silver, zinc and lead. The firm, which capitalizes almost 55,000 million euros, has managed to revalue about 50% since January 1, thus exceeding in almost 20 points the profitability of gold in the raw material market.
Even so, he has not lost brightness for experts, who continue to see in it a potential greater than 10% of the following twelve months. In fact, 60% of the more than twenty analysts covering their evolution, advise taking positions in it, its highest level since November 2024. In addition, there is no longer any analyst that advises to undo positions on it, something that did not happen since September last year.
To materialize the analysts’ forecasts, Newmont would exceed the maximums of 2024 and climb in the stock market until its highest level of the last three exercises.
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