Investors switching from precious metal mining stocks to nickel, copper miners
posted on
Apr 15, 2009 02:29AM
Article on Mineweb yesterday by analyst Barry Sergeant noting that for the past couple of weeks there has been a heavy switch out of precious metal mining stocks, and into base metal miners.
"Gold bullion prices may have perked up over the past few days, but investors have continued a broad sell off of listed gold and silver stocks, in place for two weeks now, mainly to the benefit of specialist miners of copper, zinc and nickel."
He also talks about the upward price movement in these metals, as well as providing a chart showing percentage gains of various base metal mining stocks over the last 10 days. Here is a portion of that:
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GLOBAL LISTED RESOURCES STOCKS
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Composite weighted 12-month net price gains/losses
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Main
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10-day
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IMC*
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Stock
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result
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change
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USD bn
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sample
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Copper stocks
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119.3%
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43.6%
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78.9
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93
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Nickel stocks
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47.4%
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36.5%
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31.3
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32
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