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Multi-Year Lows Tarnish Gold Stocks

Gold Fields (GFI - Get Report) ($8.05) declined to yet another new multi-year low at $8.01 and is well below its 200-week SMA at $12.18 with a negative weekly chart profile. The stock has a buy rating is 50.1% undervalued with a trailing 12 months P/E of just 6.8. The January 2009 low was $6.39 with a weekly pivot at $9.22 and quarterly risky level at $10.13.

Goldcorp (GG - Get Report) ($32.03) did not trade to a new multi-year low on Monday, but is well below its 200-week SMA at $42.58 with an extremely oversold weekly chart profile. The stock has a hold rating is 29.4% undervalued with a slightly elevated trailing 12 months P/E of 18.1. The July 2012 low is $31.54 with a weekly pivot at $33.75 and semiannual risky level at $34.33.


IAMGold (IAG) ($6.15) declined to yet another new multi-year low at $6.10 on Monday, well below its 200-week SMA at $15.71 with an extremely oversold weekly chart profile. The stock has a buy rating is 56.7% undervalued with a trailing 12 months P/E of just 7.6. My weekly value level is $5.78 with a monthly risky level at $10.57.

Kinross Gold (KGC) ($7.53) did not trade to a new multi-year low but is well below its 200-week SMA at $14.89 with an extremely oversold weekly chart profile. The stock has been upgraded to strong buy from buy rating is 54.3% undervalued with a trailing 12 months P/E of just 9.9. My semiannual value level is $6.63 with a weekly pivot at $7.26 and monthly risky level at $9.78.

Newmont Mining (NEM) ($39.00) declined to yet another new multi-year low at $38.60 well below its 200-week SMA at $53.09 with an extremely oversold weekly chart profile. The stock hold rating is 29.5% undervalued with a trailing 12 months P/E of 10.8. The March 2009 low is $34.40 with a weekly pivot at $39.83 and quarterly risky level at $45.28.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
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SYM TRADE IT LAST %CHG
ABX $11.29 0.00%
AEM $28.85 0.00%
AV $16.54 0.00%
GFI $4.37 0.00%
GG $18.43 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

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