Wall Street Cheating - Precious Metal Miners - Earnings Don't Matter?

The $GDX tracks the biggest gold miners in the world. Over the last 15 days, the top 5 companies (in the $GDX) reported their 2nd quarter earnings. Only one missed.

  • Newmont (ticker: NEM) reported adjusted earnings of 83 cents a share, ahead of Wall Street’s consensus estimate at 78 cents.
  • Barrick Gold (ticker: GOLD) reported a profit of 29 cents a share, beating forecasts for 28 cents.
  • Franco-Nevada (FNV) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.94 per share.
  • Agnico Eagle Mines Limited (AEM) reported adjusted earnings per share at 68 cents, surpassing the Zacks Consensus Estimate of 58 cents per share.
  • Wheaton Precious Metals Corp. reported adjusted earnings per share of 36 cents in second-quarter 2021, missing the Zacks Consensus Estimate of 37 cents by a whisker.

But Wall Street doesn't care. This chart plots the price action over the last 10 days.
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A top silver miner reported earnings yesterday. First Majestic reported 6 cents / share in the second quarter.Estimates were 1 cent / share. And the bots bounced this stock as well.
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