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Barrick Gold Corporation (USA) (ABX), Goldcorp Inc. (USA) (GG), SPDR Gold Trust (ETF) (GLD): These Investments Are Not So Golden

Editor’s note: Related tickers: Barrick Gold Corporation (USA) (NYSE:ABX), Goldcorp Inc. (USA) (NYSE:GG), SPDR Gold Trust (ETF) (NYSEARCA:GLD), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Newmont Mining Corp (NYSE:NEM).

Last week we discussed how the recovery of the market changes investors’ sentiment towards the stock market and away from “safe haven investments” such as gold. This shift in Mr. Market’s attitude has influenced the positions of the “gold stocks,” which declined by several percentage points. Today, most of these stocks fell further, some by over 10%. These stocks are: Barrick Gold Corporation (USA) (NYSE:ABX), Goldcorp Inc. (USA) (NYSE:GG), SPDR Gold Trust (ETF) (NYSEARCA:GLD), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), and Newmont Mining Corp (NYSE:NEM).

Barrick Gold Corporation (USA) (NYSE:ABX)

Barrick Gold Corporation (USA) (NYSE:ABX) was one of the leaders in volume trading on the New York Stock Exchange on Monday. In deals worth about $58.3 million, the stock has declined by 12.56% to $19.78. Since the beginning of the year, Barrick Gold Corporation (USA) (NYSE:ABX)’s share price dropped by 43.5%, and over the last five years, the stock lost 53.67%. In a recent article, we mentioned the depreciation from which all gold stocks suffer, including Barrick Gold Corporation.

Goldcorp Inc. (USA) (NYSE:GG) closed 6.70% lower at $27.69 in turnover worth $19.2 million. Goldcorp Inc. (USA) (NYSE:GG) has slid by 24.55% since January 1 and over the last five years, the stock fell by 29.56%. Tomorrow, April 16, is Goldcorp Inc. (USA) (NYSE:GG)’s ex-dividend day, a statement on NASDAQ’s website indicates. On April 26, Goldcorp will pay a cash dividend of $0.05 per share.

Another mega-popular gold investment, the SPDR Gold Trust (ETF) (NYSEARCA:GLD), has dropped by 8.78% to $131.31 a pop. Since the beginning of the year, the SPDR Gold Trust (ETF) (NYSEARCA:GLD) has depreciated by 18.95%, but over the last five years, it is still in the green by more than 43%.

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) also had a bad beginning of the week, losing 8.30% to $29.27 in turnover worth $44.6 million. Over the last five years, Freeport-McMoRan Copper & Gold Inc. has slid by 44.88%, and since the beginning of this year, the stock has lost 14.42%. Freeport-McMoRan Copper & Gold Inc.’s rating was sliced today to “sell” from “neutral” at Citigroup, Schaeffer’s Investment Research reported. However, Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) may rise again, but on the back of copper supply, which is expected to benefit from a housing boom.

Newmont Mining Corp (NYSE:NEM) is also on our list, with a fall of 6.74% today; the company’s shares closed at $33.92 in deals worth $22.5 million. Since the begining of January the stock has declined by 26.96% and it has lost 26.2% over the last five years. A couple of days ago, Newmont Mining Corp (NYSE:NEM) named a new CFO, Thomas Mahoney, who will replace Russel Ball on May 2, the Denver Business Journal said in an article.

Disclosure: none

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