Skip to main content

Gold Stocks Moving Up: Franco Nevada (FNV) at a New High

Gold stocks (GDX, NUGT) have been firming up and moving higher in recent days. 

This trend is especially evident if we pull up the chart of one of the world's leading gold miners, Franco Nevada (FNV). Sporting a $14.8 billion market cap, FNV is the 3rd-largest US-listed gold miner by market cap, behind $20 billion Barrick and Newmont Mining.

FNV just made a new all-time high above $81.16, the prior high from August 2016. You can see these price points on the updated chart below (the stock was just below the ATH price when I shared the FNV chart on Twitter). The stock has cleared resistance and has only "blue skies" above.

FNV Franco Nevada gold mining stock new high ATH chart


So the recent strength in gold mining stocks and utilities is reminiscent of early 2016, when these two industries were among the best-performing groups in the market.

The gold miners and utilities enjoyed a strong run through the summer of 2016, then pulled back sharply into early 2017. While utility stocks (XLU) have already gone on to make new highs, the gold miners ETF, GDX, has been treading water. In fact, GDX needs to gain more than 20% to reach its old high. 

The recent strength in FNV may be a sign that gold mining stocks are ready to turn higher.  

As my friend, Olivier Tischendorf has pointed out, Franco Nevada (FNV) is a gold stock leader that you must follow if you are trading the mining sector.

The biggest components of GDX, Barrick (ABX) and Newmont (NEM) are up around 3% today, but both stocks are trading well below their old highs. They'll have to carry some of the weight and move higher, along with FNV, in order to push the miners ETF into new high territory.

As it stands, FNV is currently outperforming the gold miners ETF and its large cap competitors. That means that Franco Nevada is the stock to own if you want to gain exposure to this new uptrend

Subscribe to the Finance Trends Newsletter - you'll get actionable trading ideas and valuable market insights sent to your inbox. You can follow our real-time updates on Twitter.    

Popular posts from this blog

The Dot-Com Bubble in 1 Chart: InfoSpace

With all the recent talk of a new bubble in the making, thanks in part to the Yellen Fed's continued easy money stance, I thought it'd be instructive to revisit our previous stock market bubble - in one quick chart.

So here's what a real stock market bubble looks like. 

Here's what a bubble *really* looks like. InfoSpace in 1999-2001. $QQQ$BCORpic.twitter.com/xjsMk433H7
— David Shvartsman (@FinanceTrends) February 24, 2015
For those of you who are a little too young to recall it, this is a chart of InfoSpace at the height of the Nasdaq dot-com bubble in 1999-2001. This fallen angel soared to fantastic heights only to plummet back down to earth as the bubble, and InfoSpace's shady business plan, turned to rubble.

As detailed in our post, "Round trip stocks: Momentum booms and busts", InfoSpace rocketed from under $100 a share to over $1,300 a share in less than six months. 

In a pattern common to many parabolic shooting stars, the stock soon peaked and began a…

William O'Neil Interview: How to Buy Winning Stocks

Investor's Business Daily founder and veteran stock trader, William O'Neil shared his trading methods and insights on buying winning stocks in an in-depth IBD radio interview.

Here are some highlights from William O'Neil's interview withIBD:

William O'Neil's interest in the stock market began when he started working as a young adult. 

"I say many times that I didn't get that much out of college. I didn't have much interest in the stock market until I graduated from college. When I got married, I had to look out into the future and get more serious. The investment world had some appeal and that's when I started studying it. I became a stock broker after I got out of the Air Force."
He moved to Los Angeles and started work in a stock broker's office with twenty other guys. When their phone leads from ads didn't pan out, O'Neil would take the leads and drive down to visit the prospective customers in person.

"I'd get in the c…

New! Finance Trends now at FinanceTrendsLetter.com

Update for our readers: Finance Trends has a new URL! 

Please bookmark our new web address at Financetrendsletter.com

Readers sticking with RSS updates should point your feed readers to our new Finance Trends feedburner.  



Thank you to all of our loyal readers who have been with us since the early days. Exciting stuff to come in the weeks ahead!

As a quick reminder, you can subscribe to our free email list to receive the Finance Trends Newsletter. You'll receive email updates about once every 4-8 weeks (about 2-3 times per quarter). 

Stay up to date with our real-time insights and updates on Twitter.