EARN25

Gold Stock Outperforming the S&P 500

CDE is fresh off multi-year highs

Managing Editor
Sep 19, 2024 at 2:27 PM
facebook X logo linkedin


Amid broader-market tailwinds, December-dated gold futures were last seen 0.6% higher at $2,615.90, enjoying a lift following the U.S. Federal Reserve's 50 basis-point rate cut

Though better known for its silver production, gold-adjacent stock Coeur Mining Inc (NYSE:CDE) -- last seen up 3.4% to trade at $6.98 -- is chip-shot from yesterday's nearly three-year high of $7.39. CDE has risen alongside the outperforming precious metals sector, up a whopping 215% over the past 12 months. Comparatively, gold futures have added 44.7% in this same time frame, while the S&P 500 Index (SPX) has only managed a 52-week growth of 28.6%. 

CDEchartsept19

 

Coeur Mining shares managed to break above pressure at the overhead 80-day moving average on Thursday, Sept. 12, following news the company was able to expand output at its Rochester mine in Nevada. Previously, support stemmed from a floor near $5.20.

Meanwhile, short interest has been building, up 13.6% in the most recent two-week reporting period. The 19.84 million shares sold short now account for 5% of the stock's available float, and would take roughly three days for shorts to cover, at CDE's average pace of trading. 

Getting Started With Options:
OPTIONS BASICS

Are you ready to start learning about options, and how to use them for faster profits? Our FREE GUIDE breaks down basic options trading concepts and vocabulary, how options derive their value, advantages and disadvantages, trading mechanics, and more!


 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here